Chile Creates Renewable Energy Center, Aims to Become Leader in Field

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Researched by Industrial Info Resources (Sugar Land, Texas)--The government of Chile recently set aside $500 million to promote non-conventional renewable energy capacity with direct subsidies and tax incentives. Currently, 22% of new power projects under environmental analysis in Chile come from renewable sources.

With the recent creation of a center for non-conventional renewable energy, founded jointly by Chile's national energy commission and the state development organization Corfo, the country expects to develop and foster non-traditional renewable energy projects in the coming years. The center also will serve as a source of information for investors and policymakers.

Chile is rich in natural resources and expects to double its renewable capacity through 2010. The country's interest in harnessing renewable energy has grown significantly in the last few years. As an example, the HydroAysen project proposes the construction of five hydropower plants in the Baker and Pascua River, located in the XI Region of the country, which would have a capacity of 2,750 megawatts (MW). The project would be fully operational by 2022.

In 2008, Chile's government enacted a law related to non-conventional renewable energy (the NCRE Law) which aims to increase the development of energies such as geothermal, eolic, solar, tidal and biomass, as well as small hydroelectric plants. During the same year, Endesa inaugurated the first windfarm in Chile, located in the Coquimbo Region with 18 MW, and expects to complete the second phase of 69 MW by the end of this year.

According to Chile's energy Minister Marcelo Tokman, the country has the ability to be one of the world's leaders in renewable energy, and also could become a renewable energy exporter in 10 years.

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