ROME – Italian renewable energy company Enel Green Power, or EGP, said on Tuesday it started construction of a 112 MW wind farm in Sierra Gorda, a town in Chile’s Antofagasta region, that will require investment totaling $215 million.
The Sierra Gorda wind farm belongs to Enel Green Power Chile Ltda. and is expected to be finished and come online in late 2016, the company said in a statement.
The wind farm is expected to generate 295 GW annually once it enters operation, or the equivalent of enough energy to meet the annual electricity needs of about 130,000 households in the South American country, preventing the emission of more than 140,000 tons of CO2.
The new wind farm will help meet the growth targets laid out in the business plan, EGP said.
The project will be financed with internally generated cash and the electricity generated will be sold under a long-term power purchase agreement.
The power produced by the Sierra Gorda wind farm will be sold to Chile’s Sistema Interconectado del Norte Grande.