Mainstream Renewable Power Wins Seven Government Contracts in Chile to Build One Gigawatt of Wind Energy Plants Worth USD $1.65bn

Energy Press Releases Thursday August 18, 2016 11:56
DUBLIN--18 Aug--PRNewswire/InfoQuest

Global wind and solar energy company Mainstream Renewable Power was today awarded contracts by the National Energy Commission of Chile to build and operate seven utility-scale wind energy plants with a combined capacity of 986MW. The projects, awarded via twenty year term contracts, are located throughout Chile and are scheduled to begin supplying low-cost, clean energy into the grid from January 2021.

(Logo: http://photos.prnewswire.com/prnh/20130606/618541 )

Mainstream was one of the leading beneficiaries in what was the most competitive and biggest electricity tender in the country's history. Eighty-four companies submitted 85,000 gigawatt hours (GWh) of bids for just over 12,000 GWh of available power - nearly seven times more power bid than could be awarded. This round also marks the first time Mainstream has participated independently in a Chilean bid and all projects are 100% Mainstream owned.

Since entering the Chilean market in 2009, Mainstream has built up the most comprehensive portfolio of wind and solar energy projects among its peers in the country, extending to over 2,000 megawatts across Chile. Through its joint venture with Actis ("Aela Energia"), Mainstream also has an additional 300 megawatts of wind projects (which it won in the 2015 auction) due to start construction in Chile this year to deliver energy in 2017 as well as a 33 megawatt wind farm which has been in operation since 2014.

Commenting on the awards, Mainstream's Chief Executive Eddie O'Connor said: "Today's win underpins Mainstream's standing as the leading independent renewable energy company in high-growth emerging energy markets. We look forward to developing these projects to the highest standard to deliver competitive priced energy into the Chilean system from 2021. I will be meeting with the CEOs of the main wind turbine manufacturers in the coming months to discuss the next generation of turbines required for these projects.

He continued: "We have developed and won contracts for projects in the North Sea, Chile, South Africa, Egypt, Senegal, Ghana and the US. We continue to find innovative ways to fund our projects as we add to our exciting emerging markets project pipeline - just like the recently announced $117.5 million equity funding for our African platform, which included investors such as the IFC and the Rockefeller Brothers Fund."

Contact: Emmet Curley, +353-86-2411690
Source: Mainstream Renewable Power

Latest Press Release

Risen Energy#s steadfast expansion to the global solar market

Brazilian market research firm Greener recently released the results of a report on the strategic markets for solar PV power generation during the second half of 2018. Over a one-month period, Greener conducted an extensive survey of PV solution...

YORK(R) YZ Magnetic Bearing Centrifugal Chiller expands capacity range

Johnson Controls has extended the capacity range of its award-winning YORK(R) YZ Magnetic Bearing Centrifugal Chiller to include chillers beyond 1,000 tons (3,516 kW), now up to 1,350 tons (4747 kW) of refrigeration. In early 2018, the YORK(R) YZ...

Sphera Acquires Petrotechnics to Enhance End-to-End Operational Risk Solution

Sphera Solutions Acquires Petrotechnics and Provides a Complete End-to-End Operational Risk Solution Sphera, the largest global provider of Integrated Risk Management software and information services with a focus on Operational Risk, Environmental...

Photo Release: PTTEP and PEPOV enter into an MOU for EP Collaboration

Representatives from the Management and team members of PTT Exploration and Production Public Company Limited (PTTEP) and PETRONAS (E&P) Overseas Ventures Sdn. Bhd. (PEPOV), a subsidiary of PETRONAS, witnessed the signing of a Memorandum of...

DACON Awarded First Overseas Wind Energy Project in Japan

Dacon, Asia's leading Inspection and Rope Access Company has been awarded its first overseas 'Wind Energy Project' in Japan. The contract is an important one for Dacon and their specialist Rope teams. Shaun Knight, Dacon's Wind Energy Section Manager...

Related Topics