Wind energy in Chile: new wind farm

AEI, Pattern Energy Group LP and Antofagasta Minerals SA (AMSA) have also completed $245 million financing for the wind turbines project. The innovative structure provides financing for the two-year construction period, value-added-tax, liquidity reserves and a 15-year term period.

Funding commitments were arranged by Export Kredit Fonden through its ELO Scheme, Sumitomo Mitsui Banking Corp, Bank of Tokyo-Mitsubishi UFJ and Credit Agricole. Chile’s Corpbanca provided the VAT facility.

The wind turbines project is currently under construction and is expected to be complete by early 2014. The wind energy project is being built by Skanska Chile. Pattern will operate the project after it is completed. Minera Los Pelambres, a mining company controlled by AMSA, signed a 20-year power purchase agreement for the wind farm.

By José Santamarta,