- Category: Other Markets
11 Jun 2013
- Published on Tuesday, 11 June 2013 07:52
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Mainstream Renewable Power is forming a joint venture with market investor Actis that will see 600 megawatts of wind and solar projects in Chile by early 2016.
Mainstream, a global wind and solar developer, will own 40 percent of the J.V. while Actis will have 60 percent.
“Actis is very happy to be making our first major investment in Chile. We have an excellent track record in providing conventional and renewable energy in the emerging markets,” said Paul Fletcher, senior partner at Actis.
Mainstream will develop the projects which will then be purchased by the J.V. at financial close. Mainstream will manage the construction and support the projects operations on behalf of the J.V.
Mainstream has been active in the Chilean renewable energy market since 2008, with an advanced portfolio of more than 3,500 megawatts of wind and solar power.
Their latest project in the region is the 33MW Negrete Cuel Wind Farm which began construction this February and is set to become fully operational by this September.
Globally, Mainstream has a pipeline of over 17,000 megawatts of wind and solar projects across four continents. This includes 238 megawatts of projects currently under construction in South Africa.
The South African projects mark the first collaboration between Mainstream and Actis. Mainstream bid and won three government tenders in South Africa in 2012. Actis is investing $100 million on the projects which are due to be operational in early 2014. – EcoSeed Staff