Chile workshop to aid renewables projects, including hydro

Chilean economic development officials are convening a March 15 workshop to help developers apply for study funding for non-conventional renewable energy projects, including hydropower projects of up to 20 MW.

Corporacion de Fomento de la Produccion (CORFO) and Comision Nacional de Energia (CNE) currently are offering up to 31 million pesos (US$60,000) per project, with a total budget of 1 billion pesos (US$1.8 million). (HNN 1/11/07) Funds will be provided to developers of renewables projects, including hydropower, who plan to invest at least US$400,000 per project. Applications are due by April 9.

To answer applicant questions and to improve their perspectives on the financing, CORFO invites prospective applicants to the workshop March 15 at the Nogales Hotel, Los Nogales 741, Providencia, Santiago.

Taking part in the workshop will be officials of CORFO, CNE, and engineering and environmental consultant POCH Ambiental. Chile’s renewable energy group, Asociacion Chilena de Energias Renovables Alternativas (ACERA), also will participate to provide examples of projects that received funds in CORFO’s previous invitations to provide assistance.

Funds are to be used for feasibility studies and specialized consultant services for project development, and for studies to secure carbon emissions reduction credits under the United Nations’ Clean Development Mechanism.

CORFO program expected to spur hydro projects

In October 2006, CORFO announced it would allot US$100 million for non-conventional renewable energy projects and would fund studies of 18 hydroelectric projects. CORFO had convened the International Renewable Energy Investment Meeting in Santiago to offer investors a portfolio of at least 60 renewable energy projects, with at least half being run-of-river hydropower sites.

As a result of those efforts, the agency said it hopes that eight projects totaling 122 MW, most hydropower, will materialize in 2007-2008.

The current call for applications is the agency’s third. In 2005, 46 projects totaling more than 300 MW were approved, with CORFO subsidies of US$1.3 million and a total investment of US$400 million. In 2006, 40 projects of 300 MW were approved, with subsidies of US$1.3 million and a total investment of US$430 million.

For information or to register for the workshop, see www.p4.cl/ernc on the Internet or call consultant Pifor Asesores Ltda., (56) 2-4179425.

For additional information, see CORFO’s Internet site, www.corfo.cl/renovables, or contact Javier Garcia, Energy and CDM Investment Program Coordinator, Investment and Development Division, Corporacion de Fomento de la Produccion (CORFO), E-mail: jgarcia@corfo.cl; Internet: www.corfo.cl.

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