Chile

In 2016, Mainstream was the biggest winner in Chile’s largest ever technology-neutral electricity auction, taking 27% of the total allocated capacity.  Mainstream was awarded 20-year index-linked, US dollar denominated contracts, to supply 3,366 Gigawatt hours of firm power starting in 2021.   

Mainstream has also delivered an additional 332 MW of wind generation in Chile through its Aela Energia platform, a joint venture with Actis. Mainstream has an additional 3 GW of wind and solar PV generation assets under development.

The platform represents a total investment of US$1.8 billion and is made up of three phases, Condór, Huemul and Copihue. The platform consists of seven onshore wind and three solar PV projects and is the result of the company's significant win in the 2016 auctions where Mainstream were awarded 27% of the total allocated capacity.

The first phase, Condór (570 MW) consisting of three wind and one solar asset reached financial close in November 2019.  At June 2020, Condór was already 30% complete and the build-out of the assets created nearly 1,200 jobs across three regions of the country and continued safely throughout the COVID-19 pandemic under strict sanitary and social distancing protocols.

Condór represents an investment of US$580 million. When operational in 2021, it will generate enough sustainable electricity to power 680,000 Chilean homes and will displace 656,000 metric tonnes of CO2 each year. Read press statement here.

The 630 megawatt (MW) second phase of Andes Renovables – called “Huemul” – is comprised of three onshore wind and two solar PV generation assets and reached financial close in September 2020.

All five assets are in construction and will reach commercial operation between 2021 and 2022. They will generate enough sustainable electricity to power 781,000 Chilean homes and will displace 744,200 metric tonnes of CO2 each year. Read press statement here.

Phase three, Copihue will reach financial close in 2021.

In 2013, Mainstream established its  Chilean joint venture together with Actis – Aela Energía.  It consists of three operational wind farms; Sarco (170 MW), Aurora (129 MW) and Cuel (33 MW).   

Aela won 64% of total allocated capacity in the 2015 Chilean competitive auction process winning two PPAs and in 2016 an additional PPA was awarded for the Cuel project. Website link here.