The Spanish infrastructure, energy and telecommunications group, Elecnor, has been awarded the construction of a new wind farm in Chile backed by Mainstream Renewable Power, which will provide clean energy to the national grid from 2021.
Located 50 kilometres from the city of Antofagasta, in a desert and relatively flat area, with heights of between 660 and 800 metres, the Cerro Tigre wind farm will have a power generation capacity of 185 MW.
Elecnor will be responsible for the full execution of the Balance of Plant (BOP), which includes the installation of 44 72 metre-high turbines of 4.2 MW each. In addition, the group will build a new booster substation, a 220 kV transmission line, over 20 kilometres of track, and the rest of the auxiliary civilian infrastructure. The contract also includes the expansion of another existing booster substation by building a 12 kilometre-long transmission line with 220 kV. The works are scheduled for completion in 2021.
Elecnor has been operating in Chile since the 1980s and has played a crucial role in energy development in the country by generating and transmitting power, developing non-conventional renewable energy (NCRE) and applying energy savings at its facilities.
The Spanish infrastructure, energy, services and telecommunications group, Elecnor, has been awarded two contracts to build two substations in Norway for EUR 13.5 million by the state-owned company Statnett, which is responsible for the country's electricity network.
Firstly, the company will build a new processing station in the municipality of Straumen, in the province of Nordland. The works, which are expected to be completed by autumn 2022, include the design, supply and assembly of a 420/132kV voltage. With the development of the new Salten substation, the energy supply between northern and central Norway is secured and the energy infrastructure is consolidated in order to meet the future supply needs of this region of the country.
Meanwhile, in the municipality of Gaupne, the Leirdøla substation will be built, which will replace the current installation. The objective of this project, valued at EUR 8.7 million, is to cover the electricity demand that is currently not being properly met. To this end, Elecnor will be in charge of the civil works and assembly of the parks, as well as the construction of the control building. The Leirdøla substation, which will have a voltage of 420/132kV, is part of a strategic investment project being carried out on the west coast of Norway, where renewable energy production is growing significantly.
Elecnor has had a presence in Norway since 2015, when it was awarded a project to build railway infrastructures and put into service two twin tunnels for high-speed trains between the cities of Oslo and Ski for EUR 80 million. The Group has also been in charge of constructing the Kristiansand substation on behalf of the company responsible for the Norwegian transport network.
The Elecnor Group has published a new Multi-Currency Promissory Note Programme in the MARF (Mercado Alternativo de Renta Fija — Alternative Fixed-Income Market) of up to EUR 300 million to finance its projects in the fields of engineering, infrastructure development and construction, renewable energy and new technologies, both in Spain and in international markets.
With this programme, the company will be able to obtain funding, in both euro and US dollars, with terms of up to 24 months, optimising the costs of cash flow financing.
The renewal of this programme provides Elecnor with a funding source separate from traditional banking, thereby diversifying its funding options. In addition, the company values the flexibility provided by promissory notes, which are issued at lower costs than those associated with alternative short- and medium-term funding sources.
Banca March and Banco de Sabadell are
the placement entities that will advise Elecnor and structure and distribute
the issuances among qualified investors. Banca March has also acted as a
Registered Advisor for the MARF and as an agent bank. The Cuatrecasas firm
provides legal advice.
Elecnor is one of the leading corporations in project development, construction and operation through two major mutually-enriching business areas: Infrastructure and Concessions.
Infrastructure, renewable energy and new technologies are the main areas of activity in which the Infrastructure and Concessions businesses are involved.