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Chile’s Renewable Energy and Energy Efficiency Market: Opportunities for U.S. Exporters 205 MW of wind power in operation,48 representing just 1% of the country’s total energy capacity49 – this despite an estimated 40,000 MW of wind energy potential.50 Only one project was even announced in 2012, the 115 MW El Arrayan Wind Farm in Chile’s 4th region. The project is set to be fully commissioned in 2014 and will use 50 2.3 MW turbines produced by Siemens.51 The project included a 20-year power purchase agreement with Minera Los Pelambres, a mining company in Northern Chile controlled by Antofagasta Minerals S.A.52 According to the Global Wind Energy Council, Chile’s lack of strong policy support, its poor grid infrastructure, and its need for more electrical engineers are the main barriers to continued wind development.53 The wind industry may get a slight boost from setbacks in other energy sectors. In 2012, the Chilean Supreme Court ruled against the construction of a 900 MW coal-fired power plant.54 With demand for power rising, wind energy may be turned to as a convenient solution. The largest areas of wind potential are in Southern Chile, in the remote areas of the Patagonia region. Since energy demand in Southern Chile is low, the distance from these windy areas to large population centers in the North and Central part of the country makes distribution and transmission the key to any future development.55 To date, utilities have been reluctant to make investments in utility scale wind power, which has slowed the industry’s progress.56 Progress will likely depend on the willingness of utility companies, particularly Endesa – the largest utility in Chile – to include wind in their energy mix. 48 Global Wind Energy Council 49 Bloomberg New Energy Finance, “H2 2012 Latin America market Outlook” pp. 8 (02 December 2012) 50 Robin Yapp, Renewable Energy World Magazine, “Chile’s Uncertain Renewable Energy Future,” pp. 1 (9 April 2012) – http://www. renewableenergyworld.com/rea/news/print/article/2012/04/chile-looks-to- renewables-as-its-grid-falters 51 Bloomberg New Energy Finance, “H2 2012 Latin America market Outlook” pp. 6 (02 December 2012); and http://www.patternenergy.com/ business/projects/el_arrayan) 52 http://www.patternenergy.com/business/projects/el_arrayan 53 Robin Yapp, Renewable Energy World Magazine, “Chile’s Uncertain Renewable Energy Future,” pp. 1 (9 April 2012) – http://www. renewableenergyworld.com/rea/news/print/article/2012/04/chile-looks-to- renewables-as-its-grid-falters 54 Bloomberg New Energy Finance, “H2 2012 Latin America market Outlook” pp. 8 (02 December 2012) 55 Country Energy Profile: Chile – Clean Energy Information Portal (www.reegle.info/countries/chile-energy-profile/CL 56 Bloomberg New Energy Finance, “H2 2012 Latin America market Outlook” pp. 8 (02 December 2012) Disinterest in wind power, however, may be changing, as Bloomberg New Energy Finance (BNEF) predicts a surge in new wind projects entering the pipeline, including six projects (totaling 392 MW) from Ireland-based firm Mainstream Renewable Power.57 In total, BNEF notes that 530 MW (more than double current capacity) of new wind projects has secured financing, with many projects expected to be commissioned in 2013 and 2014.58 Solar Though little development has occurred to date, Chile is home to one of the world’s largest solar resources, particularly in the North where the Atacama Desert, (the world’s driest desert) receives up to 9.28 KWh of sunlight daily, among the world’s highest.59 In fact, due to high energy prices in certain areas, Chile is poised to become one of the world’s first markets where the economics of utility- scale PV can facilitate private-sector investment without subsidies.60 This may explain why Chile attracted $159 million worth of solar investment in 2012 despite the lack of large-scale solar capacity.61 Currently, Chile is home to a very small solar supply chain. However, with expected growth in the future, ITA expects the domestic supply chain to fill out quickly. In total, 3.1 GW of new solar capacity remains in development.62 While certainly not all of this planned expansion will be commissioned, BNEF expects 1.1 GW of solar capacity to be online by 2015 – with 116 MW of new capacity connected to the grid in 2013.63 Often U.S. solar exporters need to develop relationships with local entities to be successful in the Chilean market. Good points of contact include Chile’s Economic Development Agency (CORFO), the Chilean Renewable Energy Center (CER), the Chilean Association of Solar Energy (ACESOL), and the Chilean Association of Renewable Energy (ACERA). One practical option is to partner with local real estate developers, construction companies, and engineering firms that are already involved in the energy sector. 57 Ibid, 8 58 Ibid, 9 59 Country Energy Profile: Chile – Clean Energy Information Portal (www.reegle.info/countries/chile-energy-profile/CL 60 Bloomberg New Energy Finance, “H2 2012 Latin America market Outlook” pp. 4 (02 December 2012) 61 Ibid,10 62 Ibid,11 63 Ibid,12 Manufacturing and Services -- Market Intelligence 9PDF Image | Saudi Arabia’s Electricity Market and Opportunities
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