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Chile

Chile

Senvion expansion starts with 299MW Chile deal

CHILE: Mainstream Renewable Power has awarded German manufacturer Senvion a 299MW contract to supply turbines to two projects in Chile.

Senvion's 3MW turbine will be installed at the Aurora project in southern Chile
Senvion's 3MW turbine will be installed at the Aurora project in southern Chile

Senvion will supply 50 3.4MW turbines to the 170MW Sarco project in the Atacama region of northern Chile. A further 43 3MW turbines will be delivered to the 129MW Aurora site in Los Lagos, southern Chile. Both projects are due online in 2017.

Aela Energia, the joint venture between Mainstream Renewable Power and private equity firm Actis, is developing the projects.

"These projects were awarded under a competitive tendering programme last year in which wind energy prices came in below fossil-fuel prices, clearly demonstrating once again that renewable energy is cheaper than fossil-fuel generation," said Mainstream CEO Eddie O'Connor.

It is Senvion's first contract in Chile as the company looks to expand beyond Europe into emerging markets.

This expansion is part of the plan put in place after the manufacturer was acquired by private equity firms Centrebridge Partners and Arpwood Capital.

Last month, Senvion, eventually, launched an initial public offering (IPO) on the Frankfurt Stock Exchange to fund its growth in to new markets.

"South Cone South America is a key part of this strategic growth plan, and with this major contract in Chile, we prove that Senvion is well positioned to expand our activities in our new markets outside of Europe," said Senvion CEO Jürgen Geissinger.

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