The joint venture company, which is 40% owned by Mainstream and 60% by Actis will purchase the projects, which have been fully developed by Mainstream.
This is Mainstream's second collaboration with Actis. In 2012 Mainstream successfully bid and won three government tenders in South Africa for 238MW of wind and solar projects which are currently in construction. Actis invested $100mn in the projects which are due to be operational in early 2014.
“This platform is about meeting the needs of offtakers, particularly large-scale industrial consumers in Chile who need top quality projects and competitive electricity prices. The market is looking for independent power producers with strong financial backing, expert local knowledge and experience in delivering operational assets,” said Mainstream Renewable Power's Chief Executive Eddie O'Connor.