Carey and Quintanilla & Busel Niedmann advised on the transaction
Enel, through its subsidiary Enel Green Power Chile Ltda. (“EGPC”), and Sierra Gorda SCM finalized the contract to connected to the grid the Sierra Gorda wind farm, which is located in the municipality of Sierra Gorda, 60 km from the city of Calama, in Chile’s Antofagasta Region. Sierra Gorda, which has an installed capacity of 112 MW, will generate more than 295 GWh each year once fully operational – equivalent to the annual power consumption needs of around 130,000 Chilean households – while avoiding the emission of over 140,000 tonnes of CO2.
Enel invested approximately 215 million US dollars in the construction of Sierra Gorda as part of the investments outlined in its current strategic plan. The project was financed through the Enel Group’s own resources and is supported by a long-term power purchase agreement (PPA). The energy generated by Sierra Gorda will be delivered to the transmission network of Chile’s northern region, SING (Sistema Interconectado del Norte Grande).
Carey advised Sierra Gorda SCM with José Miguel Bustamante (Picture), José Tomás Hurley and Valentina Mendoza.
Quintanilla & Busel Niedmann advised Enel Green Power with Jorge Quintanilla Hernández.