Chile Doubles Renewable-Energy Goal to 20% to Spark New Projects
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Chile doubled its renewable-energy target and may solicit competitive bids in 2015 for contracts to sell electricity as the South American nation seeks to spur investment in new power plants and curb its reliance on imported fossil fuels.
Utilities must get 20 percent of their power from renewable sources by 2025. That will work out to 6,500 megawatts of capacity from projects including solar farms and small hydroelectric dams, up from about 1,000 megawatts now, according to Maria Paz de la Cruz, director of Chile’s Renewable Energy Center, a government agency. President Sebastian Pinera signed the new target into law today.