Project FinanceEnergy & RenewablesBREAKING
Acciona's $9 Billion Chilean Offshore Wind Ambitions Hit Snag
Target
Lile offshore wind park
Acciona's large-scale offshore wind project in Chile, the Lile park with 1,100 MW capacity, has been rejected by an advisory body of the Ministry of Defence. This rejection impacts Acciona's broader €9 billion offshore wind plan in the country.
✦ Meridian Analysis
Acciona's 1,100 MW Lile offshore wind park project off the coast of Valparaíso has faced a significant setback after the Regional Commission for the Use of the Coastal Zone (CRUBC), an advisory body of the Ministry of Defence, voted unanimously against the development. Lile SpA, the project promoter owned 80% by Acciona, planned an investment of 2.6 billion dollars to install 66 wind turbines on floating platforms. The project's mechanics involve securing a maritime concession over 2.6 million square meters of offshore surface. While the CRUBC's verdict is consultative, the final decision on the maritime concession rests with the subsecretaría para las Fuerzas Armadas. The project encountered opposition due to conflicts with Chilean Navy operational areas, potential impacts on the port of Valparaíso and fishing activity, and risks to the marine environment.
Lile forms part of a broader package of five offshore wind projects for which Acciona requested concessions in Chile between 2023 and 2025. The portfolio includes Agua Azul, Espejo de Agua, and Brisas Marinas in Biobío, alongside Ardenna in the Maule region. Chile currently has no operational offshore wind parks, although the British embassy in Santiago presented reports by Offshore Renewable Energy (ORE) Catapult outlining expectations for intensive deployment between 2035 and 2050. The regulatory backdrop includes the Ministry of Energy's Ruta Energética 2026-2030, introduced under President José Antonio Kast following Gabriel Boric's mandate, which seeks to favour energy transition and strengthen security without situating offshore wind as an immediate strategic source.
The ultimate fate of the Lile concession now rests with the subsecretaría para las Fuerzas Armadas, where nine offshore wind initiatives are registered, four auspiciadas por Acciona. Financing terms, exact debt packages, advisers, and detailed construction timetables for the multi-billion-dollar initiative have not been disclosed.
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