Corfo approves financing for 53 renewable project proposals

Monday, September 3, 2007

Chile's national energy commission CNE and state development corporation Corfo have approved 53 new renewable energy projects in the third renewable energy financing round, Corfo said in a statement.

Corfo and CNE will provide up to 31mn pesos (US$57,090) for each project to finance pre-investment studies.

The new approved projects include 29 wind projects, 14 hydro projects, five geothermal projects, two biomass projects and two biogas projects, according to the statement.

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Together with the 86 projects approved in the first two rounds, the 139 projects partially financed by Corfo and CNE will add nearly 800MW of capacity and require total investment of US$1.5bn.