Mainstream underway at Chile plant

Mainstream CEO Eddie O’Connor

Ireland’s Mainstream Renewable Power has broken ground at its 33MW Negrete Cuel project in Chile – the first wind farm backed by a Western developer to secure non-recourse financing from the China Development Bank (CDB).

The project will be built using 23 GW87 turbines supplied by China’s Goldwind, rated at 1.5MW each. The CDB provided $52m in senior project finance.

Mainstream does not have a power purchase agreement in hand for Negrete Cuel, located in southern Chile, and will sell the electricity onto the spot market. The project is slated for full operation by September.

Mainstream chief executive Eddie O’Connor says the deal “underpins [our] position as the leading renewable-energy developer in the [Chilean] market”.

The company, which has a 2.3GW pipeline of wind and solar projects in Log in to read complete article.

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