Aela Energía is a renewable energy generation business formed in June 2013 through a joint venture between Mainstream and Actis – a pan-emerging markets private equity firm. In October 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 65% of the total 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.
Mainstream, which has been active in the Chilean market for seven years, will complete development of the projects. “Mainstream brings a portfolio of high quality wind and solar PV projects to Aela Energía. We pride ourselves on the high standards to which we develop projects and our engagement with the communities in which our projects are located. Mainstream is delighted to see that our investment over the past seven years in Chile has culminated in this significant win for Aela Energía in what has been a highly competitive tender process” states Bart Doyle, Mainstream’s General Manager in Chile (pictured).
All projects in the Aela portfolio have been fully developed by Mainstream and it will continue to manage the construction and operation of the projects on behalf of Aela Energía. Aela owns the 33 megawatt Cuel wind farm in the Biobío Region which was developed, built and is being operated by Mainstream.
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 independent power producer in Chile, delivering reliable, clean cost competitive energy to the market.