Global wind and solar developer Mainstream Renewable Power formed a joint venture with market investor Actis to deliver 600 MW of wind and solar projects into construction and operation in Chile by early 2016.
The joint venture company, which is 40 percent owned by Mainstream and 60 percent by Actis, will purchase the projects, which have been fully developed by Mainstream, at Financial Close. Mainstream will continue to manage the construction and support the operation of the projects on behalf of the joint venture.
This is Mainstream’s second collaboration with Actis. In 2012 Mainstream successfully bid and won three government tenders in South Africa for 238 MW of wind and solar projects that are currently in construction. Actis invested $100 million in the projects that are due to be operational in early 2014.