Irish clean energy developer Mainstream Renewable Power says it has installed around 30% of its 571 MW Condor solar and wind power project in Chile.
The hybrid facility, awarded a fixed tariff in a Chilean renewables auction in 2016, constitutes the first phase of the three-stage, $1.8 billion, 1.3 GW Andes Renovables hybrid solar-wind complex the developer is planning.
The Condor project consists of the Río Escondido solar park in the Atacama region plus the Tchamma and Cerro Tigre wind farms in Antofagasta and another wind site, the Alena project in the Biobío region.
Mainstream Renewable Power secured $580 million of the $830 million needed for the Condor renewables complex late last year, from Spanish lenders Banco Santander and CaixaBank, French banks Natixis and Societe Generale and Japanese institution Sumitomo Mitsui plus state controlled investors in the form of Norway’s DNB and the Ipex-Bank arm of German development entity KfW. The Irish developer of the Andes complex said it is working on reaching financial close for the second stage of the project.
Construction of the Condor hybrid complex is slated for next year.