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Mainstream moving forward with Chilean renewable portfolio despite crisis

Bnamericas Published: Friday, June 12, 2020
Mainstream moving forward with Chilean renewable portfolio despite crisis

The Chilean arm of Dublin-based Mainstream Renewable Power was been able to continue construction work at its power projects despite the health crisis.

Construction at the four plants comprising its US$830mn Cóndor portfolio has reached 30%, the company said in a release. The plants, which together will have capacity of 571MW, had PPAs awarded in the 2016 supply tender and are due to start operations next year.

Cóndor is made up of wind farms Tchamma (US$324mn) and Cerro Tigre (US$634mn) in Antofagasta region and Alena (US$240mn) in Biobío region, and the Río Escondido (US$178mn) solar park in Atacama region. Alena has seen the furthest advancement, with a completion rate of 50%. 

Mainstream said it continues to seek financial closure for its two remaining portfolios, Huemul and Copihue. In total, its Andes Renovables platform, which includes Cóndor, involves US$1.8bn investment to add 1.3GW of renewable capacity through 10 plants.

“Our company decided to invest in the country given its great potential for renewable development and with the commitment to bring down power generation prices in Chile. It is possible to be more sustainable and improve access to energy,” said CEO Manuel Tagle.

According to the company, Mainstream was able to keep advancing construction by observing health protocols recommended by the authorities.

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  • Company: Andes Mainstream SpA  (Andes Mainstream)
  • Andes Mainstream S.p.A. is a Chile-based renewable energy company and a subsidiary of Ireland's Mainstream Renewable Power. The company has a development portfolio that exceeds ...
  • Company: Foco Ambiental SpA  (Foco Ambiental)
  • The description included in this profile was taken directly from an official source and has not been modified or edited by the BNamericas’ researchers. However, it may have been...