The consolidation of renewable energy
By Carlos Alvarez Voullième
Executive Vice President CORFO Published: November 5, 2009
The Fourth International Conference on Renewable Energy Investment and CDM was a great success. The annual event, organized by the Chilean Economic Development Agency (CORFO), brings together national project developers with foreign investors interested in becoming involved in renewable energy initiatives in Chile.
The conference was attended by close to a thousand participants from 30 countries and involved approximately 700 business meetings. This confirms the growing interest in the emerging renewable energy sector in Chile.
This event highlights the financial support that CORFO provides as a strategic partner of the National Energy Commission. The partnership has facilitated pre-investment studies for small non-conventional renewable energy projects (NCRE) since 2005. Additionally, it has helped build a portfolio of over 140 initiatives, 18 of which are in operation or under construction.
The dynamic development of clean energy initiatives has made clear the need for specialized auxiliary industries. Likewise, conference participants emphasized the demand for these industries, which support the entire value chain, including: the manufacturing of parts and equipment, logistic services, construction, assembly, operation and maintenance. This presents a huge growth opportunity alongside the area of NCRE and has the potential to create jobs for both professionals and technicians.
The Chilean government's decision to support renewable energy has resulted in diverse and sustainable advances in the sector. Among the highlighted efforts is a fund of US$ 400 million for the promotion and development of renewable energy, which will focus on overcoming investment barriers. Additionally, the Center for Renewable Energy was recently established, which reinforces the government's energy policy commitment and its objectives of safety, sustainability and independence.
Carlos Alvarez Voullième
Executive Vice President CORFO