Renewables JV to bring 600 MW of solar and wind to Chile by 2016

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Irish Renewables developer Mainstream Renewable Power has announced the formation of a joint venture to deliver 600 MW of wind and solar energy in Chile by 2016.

Mainstream has entered the JV with investment house Actis – which invested US$100 million in three South African government tenders for solar and wind totalling 238 MW last year.

Under the terms of the Chilean JV, which will be 40% owned by Mainstream and 60% owned by Actis, the developer will continue construction and support of the 600 MW in question.

Since 2008 Mainstream – which claims to have a 17 GW global wind and solar development pipeline spanning four continents – has developed 3.5 GW of solar and wind capacity in the South American country.