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Mainstream reaches financial close for 630 MW solar and wind projects in Chile

Mainstream Renewable Power has reached financial for second phase of its 1.3 GW Andes Renovables wind and solar project in Chile, which comprises three wind projects with a total capacity of 425 MW and two solar projects with a total capacity of 205 MW. The five projects are expected to enter commercial operation in 2021-2022. A consortium of five banks, comprising IDB Invest, KfW IPEX-Bank, DNB, CaixaBank and MUFG, provided US$620m in debt to fund construction of the five projects.

The US$1.8bn Andes Renovables solar and wind project comprises three phases. The first phase reached financial close in November 2019 and is 30% complete. The third phase is scheduled to reach financial close in early 2021.

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