Eddie O’Connor’s Mainstream Renewable Power and joint venture partner Actis have been awarded a contract in Chile to supply 343 megawatts of wind power from five wind farms in Chile.
Its the second big development this week for the Irish renewable energy developer.
In the UK a consortium that includes Mainstream won permission to build the world’s first one gigawatt from offshore wind farm, off the east coast of England.
The wind farm, which is located 120km off Yorkshire, will be able to power 800,000 homes in the UK once it is completed. In Chile, Aela Energia, the joint venture between Actis and Mainstream Renewable Power, secured Power Purchase Agreements (PPA) with the National Energy Commission for the supply of renewable energy from five wind farms with a combined generation capacity of 343 megawatts. The projects have an investment value of approximately $860m (€690m).
Four of the five sites are expected to reach financial close during 2015, with construction kicking off after that. The fifth, Negrete Wind Farm, is already operational.
In October Mainstream was awarded consent to build and operate the £1.5bn (€1.9bn) Neart na Gaoithe wind farm off the coast of Scotland.
Earlier this year the Irish company postponed plans for a stock market flotation in Asia.
Eddie O’Connor founded Mainstream in 2008 after selling Airtricity for €1.1bn to SSE.
In Chile, the newly signed PPAs are to produce power to supply 26 Chilean distribution companies across the South American country, and will run for a term of 15 years.