- The NCRE Company has signed all supply contracts that were awarded to its projects in the 2016 electricity tender, which will provide close to 1000 MW and will involve an investment of USD$ 1.6bn.
Mainstream Renewable Power has signed all of the 175 power purchase agreements (PPAs) awarded to its projects in the most recent electricity tender. These projects will have a capacity of 1000 MW that will be injected into the matrix from 2021 and 2022. The contracts were signed with various electricity distribution companies including CGE, Chilquinta, Enel and Saesa, among others.
The wind farms, which will be located in the regions of Antofagasta, Biobío, Los Ríos and Los Lagos, will require a total investment of USD$ 1.6bn.
“Signing 100% of the power purchase agreements with electricity distribution companies is an important step in the development process of our projects, which will deliver clean and sustainable energy to the country. Mainstream’s involvement, along with the increased competition that was seen in the latest tender, will help to drive down electricity prices, create jobs in new sectors and promote growth,” says Bart Doyle, general manager of Mainstream Chile.
“We have a long term plan for this country. On top of the projects that were awarded contracts in the latest tender, we have a further 1000MW of wind and solar projects stretching from Arica to Puerto Montt,” he adds.
In March of this year, working with the Lilienfeld Corredores de Seguros consulting company, the Company secured performance bonds totalling USD$ 40m for all of its PPAs from CESCE Chile Aseguradora S.A. of the Cesce Group, a shareholding company run by the Spanish State with shares in Santander Bank and BBVA, among others.
Mainstream, which is active in America, Africa, Europe and Asia-and in Chile since 2008, was one of the main beneficiaries of Chile’s 2016 electricity tender winning 3,366 GWh/year. This will allow the company, which specialises in developing, building and operating wind and solar energy projects, to continue expanding on the national market and to put its long-term investment plans into action.
About Mainstream Renewable Power
Mainstream Renewable Power is the leading independent developer of utility-scale wind and solar power plants in high-growth emerging markets. It has a project development portfolio of 8.5GW across Africa, South and Central America and is focused on a number of markets in Asia including Vietnam and the Philippines. Mainstream is a market leader in South Africa and Chile where is has successfully won competitive tenders for approximately 2GW of wind and solar projects. The company has raised more than €1.3bn in project finance to date and employs 160 staff across five continents.
Follow Mainstream Renewable Power on Twitter @Mainstreamrp and www.mainstreamrp.com
