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Chile renewable energy bill advances in congress

Bnamericas Published: Thursday, January 19, 2023
Chile renewable energy bill advances in congress

A Chilean renewable energy bill has taken a step forward in congress.

The mining and energy committee of the lower house approved a series of amendments to the draft legislation, which now moves to the finance committee. 

The government wants to establish a 2030 goal of generating, over the course of a year, a minimum of 60% of power from non-conventional renewable energy (NCRE) and 40% during individual time blocks.

The draft legislation also encompasses energy traceability measures and greater incentives for investment in distributed generation installations. 

If given the green light in the lower house, the bill would then go to the senate. 

Chile needs to build out transmission and energy storage infrastructure to support and accompany growth in renewables capacity. 

NCRE plants already account for over 30% of power generated, smashing an existing 2025 target of 20%.

Seventy-four power generation projects are under construction for a combined 4.32GW and involving investments of US$6.04bn, according to a November project status report published by the energy ministry. Ninety-six generation projects for 11.7GW and US$12.8bn are in the environmental assessment phase. 

Installed capacity in Chile stands at 33.3GW, with NCRE accounting for 13.8GW, thermoelectric 12.7GW, conventional hydropower 6.78GW, storage 64MW and NCRE-green hydrogen 3MW, according to December data from renewables chamber Acera.

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  • The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...