Enel Green Power SpA and Empresa Nacional de Electricidad SA, known in Chile as Endesa, signed a 25-year electricity-supply deal valued at as much as $3.5 billion.
The contract enables Enel to build three clean-energy plants in Chile requiring $800 million of investment, the company said Thursday in a statement on its website. It plans to build its first geothermal facility in the country as well as a wind farm and a solar-power plant. Together they will have a capacity of as much as 300 megawatts.
Chile seeks to get 20 percent of total electricity generation from renewables by 2025.