- Sarco and Aurora projects will be located in the Atacama and Los Lagos Regions respectively, and will total 299MW.
- The wind farms will produce enough electricity to power approximately 460,000 households.
- Aela Energia was created in 2013, to deliver an initial plan to build and operate 400-600MW of wind and solar power projects in Chile.
- Actis holds a 60% and Mainstream Renewable Power holds a 40% stake in Aela Energia.
- Project financing was secured through Inter-American Development Bank and its member Inter-American Investment Corporation, Mitsubishi UFJ Financial Group, Sumitomo Mitsui Banking Corporation, Korean Development Bank, Caixa and KfW, plus a VAT credit line provided by Banco Santander.
Actis, a leading growth markets investor, today announced that Chilean renewable platform Aela Energía, has secured project financing for the construction of two projects Sarco and Aurora located in the Atacama and Los Lagos Regions respectively which will contribute installed capacity of 299MW.
The Sarco project has an installed capacity of 170MW and is located in the Municipality of Freirina, Atacama Region, while the Aurora Project has an installed capacity of 129MW and is located in the Municipality of Llanquihue, in the Los Lagos Region. Together, these wind farms will provide sufficient clean, renewable energy serving 460,000 households.
These financed projects will support the energy awarded to the company in one of the latest tender processes, where Aela was awarded 64% of total tendered energy, acquiring a commitment to supply 768 GWh/year to regulated customers for 20 years.
These new projects, together with the Cuel Wind Farm located in the Biobío Region (operating since 2014), make up Aela’s current portfolio, with a capacity of 332 MW, which will be used to sustain the 856 GWh-year awarded to the company in the last two tenders for regulated customers.
Lucy Heintz, Board Member of Aela and Partner and Head of Renewables at Actis, commented: “This is a key step towards a bright future both for Aela and for the renewables sector in Chile. Securing this financial close on the construction of two further projects is a ringing endorsement of the opportunity we see and Aela’s ability to deliver on it.”
Rubens Romano, CEO of Aela, said “This financial success is testament to Aela’s leadership in Chile’s renewable energy sector. We continue to be a key part in the transition of Chile’s power sector towards sustainability. This means using technologies that are efficient as well as environmentally and community friendly. This transition is integral to reducing the country’s dependence on fossil fuel imports, achieving significant cost savings in energy prices for the end customer.”