Energy firm Colbun has been awarded the rights to build a large-scale wind farm on federal land in northern Chile.

The firm said it would build a 607 MW wind farm, known as Horizonte, in the Antofagasta region. The facility will require an investment of around $1 billion and will be the largest wind farm in Latin America.

The wind farm will also increase Chile’s installed wind energy capacity by around 50 per cent. The terms of the lease awarded to Colbun give the company 48 months to study the development of the project, followed by three years to build it.