The agreements were completed with Minera Los Pelambres, a mining company controlled by Antofagasta plc, whose mining division Antofagasta Minerals S.A. (AMSA) will also have an option to acquire a 30% stake in the wind power project.
The 115 MW El Arrayan wind turbines project, being developed by Pattern, is located approximately 400 km north of Santiago on the coast of Chile. Once completed, the El Arrayan wind farm will be Chile’s largest wind energy project.
The El Arrayan wind power project is expected to begin construction in early 2012 and achieve commercial operation in the second half of 2013. Siemens will provide its 2.3 MW wind turbines. Skanska will perform the balance of plant construction for the wind energy project. The project has secured all land leases required for the wind turbines and transmission line.
Chile is an investment-grade country with a very attractive power market and growing demand for electricity, with goal of generating 20% of its energy from non-conventional renewable sources by 2020.