Aela Energía is a renewable energy generation business formed in June 2013 to deliver an initial pipeline of over 600 megawatts of wind and solar projects into construction and operation in Chile.
In November 2015, it was awarded contracts to build and operate two wind projects, with a combined generation capacity of 265 megawatts which will supply regulated customers in Chile’s SIC electricity system starting from 2017. The company was awarded the 20 year contracts by the National Energy Commission (NCE) under a highly competitive bidding process which saw 31 companies compete for 1,200 gigawatt hours of energy with wind and solar projects going head-to-head on price with coal generation plant. Wind and solar outbid fossil fuels on price, resulting in 100% of the power contracted being awarded to wind and solar.
Aela’s CEO Sergio del Campo, highlighted this achievement as a milestone that strengthens Aela’s presence in the country and contributes to its investment plan for Chile. “It is an important result and contributes to meeting our goal of delivering 600 megawatts onto the Chilean grid, involving an investment of US$ 1,400 million.”
The joint venture company is owned by Actis (60%), the pan-emerging markets private equity firm and Mainstream (40%). The projects have been fully developed by Mainstream and will be purchased by Aela at financial close. Mainstream will continue to manage the construction and operation of the projects on behalf of Aela Energía.
Aela’s first project, the 33 megawatt Negrete wind farm in the Bíobío region of Southern Chile began commercial operation in February 2014.
Aela Energía is focused on meeting the needs of large-scale industrial consumers in Chile such as mines who must have security of supply and competitive electricity prices. With its experienced team, advanced stage projects and strong partners, Aela is positioned to become the leading renewable energy IPP in Chile, delivering clean cost competitive energy to the market as a reliable high quality supplier.