Aela Energia, the joint venture between Actis and Mainstream Renewable Power, has been awarded contracts to develop two wind projects in Chile with a combined generation capacity of 265 megawatts.
The project will supply power to regulated customers in Chile’s SIC electricity system starting from 2017. Aela was awarded the 20-year contracts by the National Energy Commission under a competitive bidding process which saw 31 companies compete for 1,200 gigawatt hours of energy
Aela Energía said it has a capital fund of US$400 million to invest in wind and solar projects.
Mainstream, which has been active in the Chilean market for seven years, will complete development of the projects. “Mainstream brings a portfolio of high quality wind and solar PV projects to Aela Energía. We pride ourselves on the high standards to which we develop projects and our engagement with the communities in which our projects are located. Mainstream is delighted to see that our investment over the past seven years in Chile has culminated in this significant win for Aela Energía in what has been a highly competitive tender process” said Bart Doyle, Mainstream’s General Manager in Chile.