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August 17, 2016

Mainstream Renewable Power secures seven contracts in Chile

Mainstream Renewable Power has secured seven contracts from the National Energy Commission of Chile for constructing and operating wind energy plants with a combined investment value of $1.65bn.

Mainstream Renewable Power has secured seven contracts from the National Energy Commission of Chile for constructing and operating wind energy plants with a combined investment value of $1.65bn.

The commission has awarded the projects through twenty-year term contracts. They will be built at various locations in Chile and are scheduled to begin supplying low-cost, clean energy into the grid from January 2021.

Mainstream Renewable Power's chief executive Eddie O’Connor said: “We had the industry foresight to take early positions in Chile and South Africa and we are rolling-out similar plans across Africa, Central America, and Asia.

"The projects will be built at various locations in Chile, scheduled to begin supplying energy into the grid from January 2021."

“We look forward to developing these projects to the highest standard to deliver competitive priced energy into the Chilean system from 2021. I will be meeting with the CEOs of the main wind turbine manufacturers in the coming months to discuss the next generation of turbines required for these projects.”

The company noted it has secured the biggest electricity tender in the country’s history. Eighty-four firms submitted 85,000 gigawatt hours (GWh) of bids for just over 12,000GWh of available power.

In a joint venture with Actis, Mainstream also has another 300MW of wind projects expected to be built this year to provide power in Chile from 2017. It also has a 33MW windfarm, which has been in operation since 2014.

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Image: Mainstream Renewable Power wins seven government contracts in Chile to build one gigawatt of wind energy plants. Photo: Courtesy of Mainstream Renewable Power.

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