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Chile gets US$ 50 million of funding for PV projects

Author： Source：pv-magazine Editor： Publish at Beijing Time: 2013-05-08 17:34:01

Chile gets US$ 50 million of funding for PV projects

07 May 2013

Chile's Ministry of Energy has obtained US$ 50 million of international funding destined for photovoltaic projects. The government hopes that it will help boost the number of grid-connected solar installations in the South American country.

The Chilean Ministry of Energy announced yesterday in a statement that it had obtained funding, totaling $ 50 million, from the Clean Technology Fund (CTF) for photovoltaic projects. The financial support will be provided by the Inter-American Development Bank (IADB) as soft loans for investors.

Eligible are only solar projects that will be connected to one of Chile’s main grid systems, either Big North Interconnected System (SING) or Central Interconnected System (SIC).

The country's current installed photovoltaic capacity is 3.6 MW. At present time, there are several projects under construction amounting to 68.3 MW. In addition, over 4 GW are in planning, according to April’s statistics released by the Renewable Energy Center.

"This funding obtained by the Ministry of Energy, in Washington, is a clear demonstration of the political will of the government to assimilate renewable energy into the Chilean electricity matrix," said deputy Energy minister Sergio del Campo in the government statement.

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