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The contract, related to the country's central SIC grid, will take effect in 2018 and last for 15 years.
E-CL will supply power from "a diverse portfolio of sources composed of existing installations and new capacity, including natural gas, the Infraestructura Energetica [IEM thermo] project and non-conventional renewable energy," a company release said.
E-CL will now become a "relevant actor" on the SIC as well, the statement said, and the company will begin a growth phase requiring investments in the tune of US$1.7bn.
The IEM project in Mejillones, Antofagasta region (II), requires an investment of approximately US$1bn for construction of a power plant and port, the company said.
Chile's power transmission and distribution association Empresas Eléctricas and the state's national energy commission (CNE) awarded 85% of the blocks made available, which totaled 13,000GWh/y.
The auction was Chile's first to include blocks designed for NCRE generators, which comprised the majority of bidders.