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Mainstream Renewable Power wins seven government contracts in Chile

Mainstream Renewable Power has been awarded contracts by the National Energy Commission of Chile to build and operate seven utility-scale wind energy plants with a total investment value of USD $1.65 billion and a capacity of 986 MW.

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.

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.

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 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. 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.”

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Policy, investment and markets  •  Wind power

 

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