Mainstream Renewable Power has achieved 30 percent progress in the first phase of the Andes Renovables project, media reports said. The Andes Renovables project comprises construction of four renewable energy parks in Chile.
These parks are estimated to generate a total of 571 MW of clean energy,. This is equal to energy consumption of 680,000 homes. Mainstream Renewable Power is the leading global developer in wind and solar power plant.
Last year, the company secured $580 million for the construction of Condor renewables complex from lenders such as Banco Santander, CaixaBank, Natixis, Societe Generale, Sumitomo Mitsui, in addition to state controlled investors including Norway’s DNB.
The construction of Condor hybrid complex is scheduled for next year, media reports said.
Manuel Tagle, General Manager of Mainstream Renewable Power for Chile and Latin America, told the media, “We are making solid progress on the construction of our four Condor portfolio assets, and we are on track to bring the Huemul portfolio of five assets to financial close this summer.We are operating in challenging times, but we are fully committed to our long-term investment plans in Chile. The country has enormous potential for the growth of renewable energy, and we are proud to be contributing to building a more sustainable future for all.”
The Condo project comprises Río Escondido solar park, Tchamma and Cerro Tigre wind farms and the Alena project.