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Enel Green Power and Endesa Chile sign $3.5bn power purchase agreement

CTBR Staff Writer Published 10 July 2015

Enel Green Power (EGP) and Empresa Nacional de Electricidad (Endesa Chile) have signed a 25-year renewable energy power purchase agreement (PPA) worth about $3.5bn.

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Under the agreement, EGP's Chilean subsidiary will develop three energy plants in Chile requiring about $800m investment.

The company plans to build its first geothermal facility in the country as well as a photovoltaic (PV) facility and a wind farm. Together they will have a capacity of about 300MW.

EGP currently operates a portfolio of plants in Chile that have a combined installed capacity of about 600MW.

Of the total capacity, 340MW is wind power, while 154MW and 92MW comes from solar and hydro respectively.

About 300MW from the PPA with Endesa Chile and approximately 300MW from other projects currently in execution will bring EGP's total installed capacity in the country to around 1.2GW.

Separately, EGP said it has started construction of the 160MW Finis Terrae solar PV power plant and the 24MW Los Buenos Aires wind facility in Chile.

Located in the Antofagasta region, Finis Terrae will be the largest solar PV park in Chile.

EGP will invest about $270m in the construction of the plant, which will produce over 400GWh of energy per year, enough to power 198,000 households in Chile.

Situated in the Chilean region of Bio-Bio, the Los Buenos Aires wind farm will generate over 86GWh of energy per year, enough for about 40,000 Chilean households.

Image: Enel Green Power and Endesa Chile have signed a 25-year renewable energy power purchase agreement. Photo: courtesy of Anusorn P nachol/FreeDigitalPhotos.net.