Chile gives 51 renewables projects financing boost

Monday, September 15, 2014

Chile's government awarded 780mn pesos (US$1.3mn) in financing to advance renewable energy projects totaling 740MW in a third call to boost use of alternative power sources.

In a statement, the energy ministry's renewable energies center CER said 15 small hydro, 15 wind, 12 solar, seven biomass and one hybrid project, along with one associated transmission line, received funding.

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State development agency Corfo will provide the funds, which will support pre-investment studies.

The competition was open to projects under 50MW and includes participation of German development bank KfW.

Last week, SunEdison's new general manager for the country, Alfredo Solar, said state involvement will be crucial to non-conventional renewable energy development in Chile.

BNamericas will host its 11th Southern Cone Energy Summit in Lima, Peru, on November 12-13. Click here to download the agenda.