MRP-backed Aela names new CEO

Sergio del Camp, Aela Energia's new chief executive, and Chile's former deputy energy secretary.

Sergio del Camp, Aela Energia's new chief executive, and Chile's former deputy energy secretary.

Aela Energia, the Chilean renewables operator backed by Ireland’s Mainstream Renewable Power (MRP), has named as its chief executive Sergio del Campo, who until recently served as Chile’s deputy energy secretary.

Del Campo was in 2011 named undersecretary of energy for Chile, a country with fast-blossoming wind and solar sectors. He apparently departed his post very recently, with his LinkedIn page still claiming he holds the position, despite MRP referring to him as “former” undersecretary.

Last summer MRP formed Aela Energia alongside Actis, the emerging markets-focused private-equity firm, to acquire MRP’s near-term Chilean renewables projects as they reach financial close. MRP holds a 40% stake in Aela Energia, with Actis owning the rest.

Actis has also backed MRP’s projects in South Africa.

The first project on Aela Energia’s books is the recently completed 33MW Negrete wind farm in southern Chile, which features Goldwind turbines, and was the first wind farm built by a Western developer to secure non-recourse financing from the China Development Bank.

Aela Energia has two more wind farms and a PV array slated to break ground this year, and it aims to have more than 600MW of capacity in operation in Chile within two years.

In all cases MRP -- whose development pipeline in Chile stretches to 3.5GW -- will oversee construction and stay on to operate the projects.

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