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Aela Wind Power Project Project Group

Project number 12111-01
Country Chile
Sector Energy
Status In implementation

Chile has been incorporating more non-conventional renewables into its grid as it seeks to move away from fossil fuels—especially coal—for electricity generation.

Climatescope, which assesses investment conditions for clean energy and climate-related investments in more than 70 countries, ranks Chile as the seventh most attractive country in the world for green investment, with only Brazil and Mexico scoring higher among Latin American countries.

For the Aela Energía projects, IDB Invest put together a $410 million financing package in conjunction with Mitsubishi UFJ Financial Group, Sumitomo Mitsui Banking Corporation, Korean Development Bank, CaixaBank and KfW. Project financing will cover about 70 percent of total financing, while the equity partners will provide the remaining 30 percent.

Aela Energía will build and operate the 170 MW Sarco Wind Farm in Atacama and the 129 MW Aurora Wind Farm in Los Lagos, and it will own and operate the existing 33 MW Cuel Wind Farm in Bío-Bío. Founded in 2013, Aela Energía is 60 percent owned by Actis, a global fund that invests in growth markets, and 40 percent by Mainstream Renewable Power, a global developer of renewable energy projects.

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