Parque Eolico El Arrayan (PEEA), a joint venture created to develop the wind farm, secured financing from AEI, Pattern Energy Group, and Antofagasta Minerals.
The $245m facility provides financing for the two-year construction period, value-added-tax, liquidity reserves and a 15-year term period.
The El Arrayan wind project will utilize 50 units of Siemens 2.3MW wind turbines and is expected to achieve commercial operation in early 2014.
Upon completion, the wind power project will provide enough clean and renewable energy to serve around 200,000 local homes each year without producing any emissions.
After the project’s construction, Pattern will also operate the wind power project.
In November 2011, PEEA entered into a 20-year renewable power sale and energy services agreements with Minera Los Pelambres.
