Spanish producer Repsol has completed construction of Cabo Leones 3, its first joint wind farm in Chile with Spanish renewables company Grupo Ibereolica Renovables.

The 188.1-megawatt project is the first of a larger joint initiative to develop 1.6 gigawatts of renewable solar and wind energy in Chile through 2023, with the possibility of expanding to more than 2.6 GW by 2030.

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The first phase of Cabo Leones 3 launched at the end of last year, with 78.1 MW of generating capacity from 22 Siemens-Gamesa wind turbines with a nominal power of 3.55 MW each.

An additional 22 Siemens-Gamesa wind turbines were added in the second phase, with a nominal power of 5 MW each, adding an additional 110 MW of installed capacity and taking the wind farm's total capacity to 188.1 MW. Commercial operations are slated to start up in the fourth quarter of the year.

Cabo Leones 3, located in the province of Huasco in the northern region of Atacama, has the capacity to generate 520 gigawatt hours annually, enough to power 170,000 households in Chile, while also creating about 150 local jobs.

Repsol says the wind farm will save roughly 418,000 tonnes of carbon dioxide in annual emissions from the region.

It also confirmed Tuesday that the joint venture had secured long-term funding for the wind farm development via a project financing arrangement worth $209 million with Spanish and international financial institutions. The deal includes long-term debt and establishes a series of guarantees.

Repsol and Ibereolica are also planning the Atacama wind farm project, which is expected to come online by 2023 with a total installed capacity of up to 180 MW.

Repsol ramping up its energy transition

Repsol is investing significantly in the energy transition and raised its low-emissions power generation target to 8.3 GW in July, increasing it over 10%, based on an expected growth in renewables.

The company is expanding its wind generation capabilities closer to home as well, with a 335 MW farm in Spain and several other renewable projects across the Iberian Peninsula.

Earlier this year, Repsol announced the Deep Purple pilot project, which is exploring the integration of offshore wind power and offshore hydrogen production. It also recently launched its largest solar project to date in Spain and is looking to promote hydrogen-powered trains.

Considering Chile’s high potential for wind energy, Repsol and Ibereolica are planning to open for commercial operations a second wind farm in the region with a capacity of 180 MW.