The $320m Cerro Pabellón plant is said to be the first geothermal plant in South America, and the first in the world built at 4,500m above sea level.
The plant is owned by Geotérmica del Norte, which is 51% controlled by Enel Green Power Chile while Enap owns the remaining 49% interest.
Upon commissioning by the first half of 2017, the project is expected to generate about 340GWh power annually, while avoiding CO2 emission of more than 166,000t.
Enel Green Power CEO Francesco Venturini said: "Cerro Pabellón also sets out another record by being built at the highest altitude for a binary geothermal plant.
"Thanks to its more than a century of experience in the sector, Enel Green Power has been able to leverage its know-how to develop part of Chile’s enormous geothermal potential, estimated to total about 3,600MW, and to thereby contribute to diversifying the country’s energy mix."
Separately, Enel has started construction of 100MW Vientos del Altiplano wind plant in the municipalities of Mazapil and Villa de Cos in Mexico with an investment of approximately $220m.
Owned by Enel Green Power Mexico subsidiary Vientos del Altiplano, the power plant will feature 50 turbines to generate more than 280GWh electricity a year, to serve over 161,000 households.
Planned to be commissioned by second half of 2016, the facility is supported by long-term power purchase agreements, and is expected to reduce C02 emissions of more than 157,000 tons annually.