Chile

Mainstream entered the Chilean market in 2008 through a joint venture with a local development company.  Since then, the team has won projects in the competitive tenders in 2015 and 2016 making Mainstream the largest independent developer and constructor of projects in Chile.

Mainstream Chile has three platforms; its joint venture company Aela Energiá (332 MW), its wholly owned Andes Renovables (1.3 GW) and its Chile 3 development pipeline of 2.6 GW. 

Mainstream won approximately 28% of total allocated capacity in the 2016 auctions.  At 1.3 GW, the Andes Renovables platform, wholly owned by Mainstream represents a total investment of US$1.7 billion.

The platform is split into three portfolios, Condór (574 MW) in construction, Huemul (630 MW) in pre-construction and Copihue (approx. 100 MW).  In late 2019, Mainstream secured USD$580 million of project financing from a group of six international banks. This was awarded the Infrastructure Investor Awards 2019 Latin America Renewables Deal of the year and PFI awards 2019 Americas Deal of the Year.

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.