Enel Green Power signs $3.5 billion-power purchase deal with Endesa Chile

Italy’s biggest renewable energy company Enel Green Power said on Thursday it had signed a long-term energy power purchase agreement with Endesa Chile worth up to $3.5 billion.

The contract will enable Enel Green Power’s Chilean subsidiary to develop three plants with a total installed capacity of around 300 megawatts, which will require investments of around $800 million.

In a separate statement, the company said it had begun construction of Chile’s largest solar photovoltaic plant, which will have a total installed capacity of 160 MW. EGP will be investing around $270 million in the new plant, it added.