Arguably no company has taken better advantage of Chile's renewable energy opportunities than Ireland's Mainstream Renewable Power, at least in terms of contracts signed.

The question now is whether those contracts will translate into completed projects in time to fulfill Mainstream's supply commitments.

The firm has a nearly 2,000MW pipeline of projects in Chile, including the 170MW Sarco and 129MW Aurora wind farms, which secured US$410mn in project financing this month.

Sarco and Aurora - owned by Aela Energía, a 60:40 JV between private equity firm Actis and Mainstream - are backed by long-term PPAs with electric utilities awarded through a public energy auction in 2015, and scheduled to enter operation in the second half of 2018.

The PPAs went into effect in January and are being fulfilled, an Aela spokesperson told BNamericas in an email. Turbines for the projects will be supplied by German manufacturer Senvion.


Project Risk Analytics
Tracking project performance

Portada Risk

By providing a top-down analysis of the timeliness and costs of current Latin American projects, BNamericas provides a new tool to the industry, allowing it to learn from past events and improve planning for future projects.

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