Irish renewable firm wins big in Chile, inks contracts for 1 GW of wind power
Mainstream Renewable Power will build seven wind farms across mountainous South American country worth US$1.7 billion
DUBLIN—Irish renewable energy developer Mainstream Renewable Power has emerged from Chile’s largest-ever energy tender with contracts in hand for nearly 1 gigawatt of wind power.
Representing approximately US$1.65 billion in development costs, Mainstream Renewable Power will build seven separate wind farms across the mountainous country running along the spine of South America.
“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 company’s CEO, Eddie O’Connor, said.
“We look forward to developing these projects to the highest standard to deliver competitive priced energy into the Chilean system,” he added.
Though Mainstream Renewable has been active in Chile since 2009, the contract wins mark the first time it has independently bid on contracts in the country. As a result the Dublin-based company will own 100 per cent stakes in each of the projects, which are expected to begin coming online in 2021.
The projects, totaling 986 megawatts of power capacity, will operate under 20-year contracts with the National Energy Commission of Chile.