Chile govt to back initial studies on 740 MW of green projects

Sep 16, 2014 - The Chilean Government has provided CLP 780 million (USD 1.3m/EUR 1.01m) in funding for the pre-investment studies on 750 MW of renewable energy projects, Chilean development agency Corfo said yesterday.

The funds will back 15 mini-hydropower plants (HPPs), as well as 12 solar, 15 wind, seven biomass, one hybrid project and one project for the construction of a transmission line.

The financial support was awarded by means of tender, as part of the country’s Energy Agenda initiative under which the government established as a priority the use of own energy resources. It targets power projects of less than 50 MW based on sources of Non Conventional Renewable Energy (NCRE), as well as projects for the development of additional transmission capacity.

The financial support for early studies on the projects covers up to 40% of the cost with a cap of up to 1,000 Unidades de Fomento (UF), Chile's inflation-linked currency unit, for the early stage of the pre-investment studies. for the initial stages, and 2,000 UF for the advanced stages.

(CPL 100 = USD 0.168/EUR 0.130)

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