May 8 (Bloomberg) -- Enel SpA, Italy’s biggest utility, will have the right to buy installed wind-power capacity in Chile after helping develop 850 megawatts of projects.

The power generator’s renewable-energy unit agreed to help Germany’s SoWiTec Group in constructing projects in Chile, a deal that will earn Enel the right to acquire wind-power plants in the South American country, Rome-based Enel said today in an e-mailed statement.

Enel is selling a minority stake of its Green Power unit to raise funds and reduce debt that it forecasts will climb to more than 60 billion euros ($80 billion) after it buys more than 90 percent of Spain’s Endesa SA.

Enel will be permitted to purchase plants with capacity ranging from 60 megawatts to 150 megawatts, the statement said.

Enel Green Power had 4,500 megawatts of installed capacity at the end of last year. It plans to increase output by 32 percent over its five-year business plan and has earmarked 3.7 billion euros to increase its installed capacity to 6,400 megawatts by 2013.

To contact the reporter on this story: Adam L. Freeman in Rome at afreeman5@bloomberg.net

Last Updated: May 8, 2009 06:26 EDT