Chile to seek support for renewables, mining sector

Oct 31, 2014 - Chile's development agency Corfo said Wednesday it had signed an agreement with Japanese bank Sumitomo Mitsui Banking Corp to study financial support for the Chilean renewable energy and mining sectors.

The agreement will be valid one year and could be extended thereafter.

The challenges for Chile's energy sector include drought, problems with environmental permits, insufficient projects and insufficient investment in infrastructure, including the transmission network, Corfo said. The agency will assist the government in its energy strategy, reactivating mechanisms of support to pre-investment studies and facilitating access to financing for power projects integrated with the local market.

Sumitomo Mitsui Banking will open its first office in Chile next year.

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