Dublin-based renewables developer Mainstream Renewable Power is reportedly pursuing the sale of its operations in Chile. According to Chilean newspaper La Tercera, the company has engaged Brazilian investment bank BTG Pactual to manage the sale process, with preliminary bids expected next month.
Mainstream's portfolio in Chile comprises approximately 1 GW of operational solar and wind capacity and an additional 1.8 GW under construction and development.
Mainstream's flagship Andes Renovables project—a portfolio of fully contracted solar and wind projects grouped into Huemul, Condor, and Copihue—remains central to the company's Chilean operations.
Last year, Mainstream's Huemul and Condor projects completed judicial reorganization, reaching an agreement on terms for nearly USD 1 billion in senior project debt.
Challenges facing Chile's renewables sector, including transmission bottlenecks and market curtailments, have impacted Mainstream's financial performance.
However, the company's majority shareholder, Aker Horizons ASA, reported that Andes Renovables sustained positive margins in the first half of 2024, underscoring the platform's resilience amid market pressures.
