CLIMATE ECONOMY

Chile is Latin America’s top investment destination for renewable energy

SANTIAGO – Positioned at the top of the list of countries to invest in renewable energy, Chile becomes a primes choice for the start of the green revolution.

Vice president of ARRAY Technologies Cesar Alberte said at the International Congress of Renewable Energy (ICRE) in Santiago that Chile became Latin America’s prime investment destination for renewable energy projects. Many conference attendees agreed. In addition, the executive remarked that ARRAY considers President Sebastián Piñera’s goal to achieve a 100% renewable energy matrix by 2040 feasible. Alberte told news outlet Bio Bio Chile: “We consider Chile as a pioneer country in the development of renewable energy in general and photovoltaic in particular, and this provides Chile a very high importance around the world in terms of energy.”

Solar, wind, and hydroelectric energy are the principal sources of renewable energy acknowledged as the future of a self-sustaining economy in Chile, and Alberte told Bio Bio that the country has created many specialists that have been developing green projects. This will bring great economic benefits since it could end fossil fuel dependence. According to the executive, Chile has the potential to reach the top of the world’s renewable energy power list in a few years.

Recent publications such as Ernst & Young’s Renewable Energy country attractiveness index,” suggest that by 2050 some 90% of the total energy produced in Chile will come from renewable sources. This prediction defines Chile as the 9th most attractive country globally for renewable projects, especially solar and wind power. Notably, former president Michelle Bachelet won the “Champions of the Earth” award in 2017, which represents the highest distinction the UN recognizes in the struggle for environmental conservation. “Because we face unprecedented threats to our environment, a strong leadership in all aspects is demanded more than ever” said the UN’s environmental executive director Erik Solheim.

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