Italian energy group Enel said it was the biggest winner in Chile’s latest power tender, securing deals for 1.18TWh that will allow it to advance 242MW of new renewables.

Local unit Enel Generación Chile won 54% of the 2.2TWh procured through the tender, which relates to regulated-market supply in the 2024-43 timeframe.

The tender success paves the way for the Italian group to finance and build 116MW of solar, 93MW of wind and 33MW of geothermal plant, it said in a statement.

Enel CEO Francesco Starace said: “The combination of different renewable technologies and some thermal generation has proven once again the winning approach.”

The Chilean tender procured less power than anticipated when the process was first announced earlier this year, when the government said it may buy up to 4TWh.

But the slowing Chilean economy has led to lower power demand than anticipated.