Wind and solar developer Mainstream Renewable Power has closed financing and started construction on its 33 MW Negrete Cuel Wind Farm in southern Chile. The wind farm, which is 100% owned by Mainstream, is expected to be fully operational by September.
The project has been financed without a power purchase agreement, and Mainstream will sell the energy directly into the spot market. China Development Bank has provided $52 million in senior project finance for the wind farm, and Chinese wind turbine manufacturer Goldwind is supplying the project with its GW87 1.5 MW wind turbines.
The project is part of Mainstream's 2.3 GW wind and solar development portfolio in Chile. The company has been active in the Chilean market since 2009, when it partnered with local Chilean developer Andes Energy.