AMP Capital’s fourth infrastructure debt fund has provided a $280m (€234.5m) construction finance facility to Mainstream Renewable Power in Chile.

Mainstream said the facility from the AMP Capital Infrastructure Debt Fund IV (IDF IV) fund will be used to part-fund the 1.3GW Andes Renovables wind and solar platform.

Mainstream said the IDF IV funding complements the $1.25bn of senior project finance debt raised to date through two separate financings completed in October 2019 and August 2020.

Paul Corrigan, Mainstream’s CFO, said: “Mainstream is delighted to be working with AMP Capital to finance one the largest wind and solar platforms in Latin America.

“This deal follows closely on the heels of the $630m Huemul senior project financing which we announced at the beginning of September.”

Patrick Trears, global head of infrastructure debt at AMP Capital, said: “AMP Capital is extremely pleased to provide Mainstream with $280m of mezzanine debt to finance the construction of the Andes Renovables platform.

“Mainstream is a world leader in renewable energy and is exactly the type of partner we seek to work with to provide innovative financing solutions. We look forward to helping Mainstream achieve its goal of bringing low cost, sustainable energy to communities globally.”

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