In the past few years the Chilean energy market has experienced great changes and advances that benefit the industry and boost the development of renewable energy projects. These changes have led to a large development of renewable energy initiatives and to the consolidation of new companies and players in the energy sector. In 2015 almost 300 renewable initiatives were presented for environmental evaluation and renewables accounted for 76% of the investment in electricity generation, which demonstrates the importance of the industry.
Chile has plentiful natural resources that are ideal for the development of solar and wind farms. The unique radiation levels present in the north and the favorable winds across the country allow Chile to have large investments in this area and to gain energy independence, which it has not had in the past because of the reliance on gas and other fossil fuels that are not produced internally. Additionally, Chile has a large potential to become an energy exporter for the region.
The Government has recognized the large opportunity for investment in the renewable energy sector as well as the opportunity to clean the energy matrix and to develop projects that have less opposition from communities. Therefore, through the Ministry of Energy, it is pushing a variety of initiatives that increase the competition in the energy sector and support the integration of renewables