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Mainstream Renewable Power completes $1.8 billion wind and solar financing deal in Chile

Christian Fernsby |
Mainstream Renewable Power has achieved financial close for the third and final phase of its Andes Renovables wind and solar platform in Chile.

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Topics: CHILE   

The c. US$182 million in debt raised will be used to build the Copihue phase which consists of one wind farm, named Camán, located in central Chile.

The project, which will commence operations in 2022, initially had an installed capacity of 100 MW but has since increased to 148.5 MW following the signing of an additional long-term, bilateral Power Purchase Agreement (PPA) with a strategic partner.

The senior debt financing comes from KfW IPEX-Bank, DNB, CaixaBank and the VAT financing comes from Scotiabank Chile.

With the financial close, Mainstream completes an investment of more than $1.8 billion to build its entire Andes Renovables platform, which is expected to be fully operational by 2022 and will provide around 20% of power for regulated customers in Chile using renewable energy.

Sacyr will be the Balance of Plant contractor for the Camán wind farm and they will carry out the electrical connection works. The main transformer will be supplied by ABB.

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