Enel Green secures Chile renewable energy funds

August 7, 2013 by  
Filed under Green Energy News

Italian developer Enel Green Power subsidiary Enel Latin America has secured US$100mn in financing from Chile’s Banco de Crédito e Inversiones to develop energy projects in Chile.

The five-year loan will be disbursed at the end of 2013, according to a company press release.

In Chile the developer runs the 90MW Talinay plant, the largest wind farm in the country to date, and has started construction on the 90MW Valle de los Vientos wind project and is exploring land concessions to increase capacity beyond 100MW.

Enel Green Power also holds a majority stake ( 51%) in one of Chile’s most advanced geothermal ventures, the 50MW Cerro Pabellón (Apacheta) project developed by Geotérmica del Norte, which also comprises state oil company Enap (44%) and state copper giant Codelco (5%).

And in related news Japan’s Marubeni agreed to acquire a 25% stake in Irish renewables developer Mainstream Renewable Power for 100mn Euro (US$133mn).

Marubeni will be granted a spot on the Irish developer’s board, along with Barclays who invested in the firm in 2008, according to a Mainstream press release.

The Irish firm and Chile’s Andes Energy Capital formed a JV – dubbed Andes Mainstream – in 2008, with an initial pipeline of 400MW of wind energy projects.

Last month private equity investor Actis and Mainstream Renewable Power signed a US$1.4bn contract to develop wind and solar energy projects in Chile.

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