Thermoelectric power is on its way out and Chile is committed to an upsurge in renewable investment driven by the private sector to achieve its ambitious climate goals.
Chile's electricity sector is going through significant change in almost all areas, as it transitions to a cleaner, less centralized electricity grid. Its goal is for its 70% of its energy matrix to be supplied from renewable sources by 2030, a target far in excess of the 20% that was originally set for 2020.
The change began in the last decade thanks primarily to the growth in non-conventional renewable energy (NCRE), with installed capacity increasing from 2% of the national total in 2005 - when there was just a handful of biomass and mini-hydro projects - to 26.4% in 2020, delivered mainly by solar and wind projects.
For this energy transformation to occur, new private sector projects will be needed to replace the outgoing thermoelectric capacity. In order to meet its goals, Chile is committed to an upsurge in renewable investment driven by the private sector. And this opens up a whole range of opportunities for foreign investors over the coming years.
Chile has already been singled out as one of the most attractive countries for renewable energy investment: EY's Renewable Energy Country Attractiveness Index ranked Chile among the 11 most attractive countries in the world for renewable investment, along with economies like Spain, the Netherlands, Japan and France. Meanwhile, Bloomberg’s Climatescope classified Chile as the most attractive country in the world for renewable energy investment.
It is in this context that InvestChile - Chile´s Foreign Investment Promotion Agency - has launched its new Energy e-Book, which contains all the information needed by foreign companies interested in investing in Chile’s energy industry.
The report includes an overview of Chile's electricity grid, the main regulations and the industry’s principal stakeholders. Readers will find a breakdown of the foremost opportunities presented by the ambitious transformation of Chile’s energy industry
If you want to know more about opportunities in Chile’s electricity industry, check out the following article.