Firm signs 1GW of clean energy won in Chile auction

A renewable energy firm has signed every one of the 175 contracts it won in Chile’s latest electricity supply tender. The power purchase agreements (PPAs) awarded to Mainsteam Renewable Power […]

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By Jonny Bairstow

A renewable energy firm has signed every one of the 175 contracts it won in Chile’s latest electricity supply tender.

The power purchase agreements (PPAs) awarded to Mainsteam Renewable Power during the 2016 auctions will provide close to 1GW of clean power and will involve an investment of around $1.6 billion (£1.25bn).

These projects, which are primarily wind farms, will be brought into the energy mix from 2021 and 2022 and are to be located in the regions of Antofagasta, Biobío, Los Ríos and Los Lagos.

The firm signed contracts with various electricity distribution companies including CGE, Chilquinta, Enel and Saesa.

IT also secured performance bonds totalling $40 million (£31.2m) for all of its PPAs.