Pacific Hydro's first project in the South American country is located in the Coquimbo region of central Chile, and will cost $150 million to build.
The turbines will have a diameter of 121 metres and are expected to arrive in the Port of Coquimbo in mid-2017.
"With this contract, we continue to advance our project, which will diversify our portfolio and use all our team's experience in Australia and Brazil and that of our owner State Power Investment Corporation (SPIC)," said Pacific Hydro project director Brett Dutton.
The developer currently operates five hydroelectric plants in Chile, two through a joint venture with Norway's Statkraft.
The Australia-based company was acquired by Chinese state-owned power producefr SPIC in January this year for $2.5 billion.