Acciona to Invest $500 Million for Chile Renewable-Power Plants

Acciona SA, a Spanish energy developer, expects to spend $500 million building wind and solar power plants in Chile after receiving contracts to deliver 600 gigawatt-hours of electricity a year to distributors.

The company is planning 225 megawatts of renewable-power projects that must go into service in 2018, Alcobendas, Spain-based Acciona said today in an e-mailed statement. The contracts run for 15 years.

Chile awarded power contracts through a Dec. 12 auction. Other recipients included GDF Suez SA, which expects to invest $1.7 billion for a power plant and transmission lines, and Electricite de France SA.

Before it's here, it's on the Bloomberg Terminal.