Under the terms of the deal, Mitsui will partner with ENAP to build two combined-cycle gas turbine power projects with an estimated investment of nearly $1.3bn.
The projects include the 760MW combined-cycle Luz Minera project in northern Chile and 510MW Nueva ERA power plant in Concon.
Fox News Latino cited ENAP CEO Marcelo Tokman as saying: "Through a serious and rigorous process we have selected as ENAP’s partner a company with vast experience and financial strength, to become a relevant new player in the electricity sector, to enhance market competition and to keep on fulfilling our strategic role in the energy development of Chile."
The firms, through these projects, plan to jointly bid in order to supply electricity between 2016 and 2018.
The Luz Minera power plant will be fuelled with regasified LNG, which will be imported through the Mejillones terminal in the north, while the Nueva ERA facility will be fuelled LNG which will be imported through the Quintero terminal in Valparaiso, reported Argus Media.
Mitsui Chile president Yoshiaki Mukai said: "We are taking our first step in Chile to make headway in power generation and contribute to ENAP’s and the country’s development."
