Chile’s market is very promising in renewable energy terms yet the country doesn’t have enough power. The Atacama desert has one of the highest solar energy resources on the planet.
Chile has a healthy, fast-growing economy and clear vision of its aims and energy needs. The government has adopted the program to increase the country’s renewable energy facilities 3-fold from 2009 to 2035, to 15% of the total energy market.
Favorable investment climate makes Chile’s market very popular among long-term global investors. In June 2013 private equity firm Actis made a decision to invest USD290 mln in 600 MW of renewable energy facilities in this country. Aela Energía company was established for this purpose in cooperation with South African Mainstream Renewable Power. Should the plan be fully implemented, the company will be able to provide clean energy to 131 thousand of local households.