Chile goes up in ranking of attractive countries in NCRE market
Among the 40 markets analyzed, our country ranks #15 in the ranking as the second best in Latin America.
The enactment last October, law 20/25 extending the country’s energy matrix through the use of Non-Conventional Renewable Energy (NCRE), was that Chile continue climbing in the ranking of countries with Attractive Renewable Energy (relapsed, for its acronym in English) published in November by the international consulting EY (formerly Ernst & Young). Thus, our country is ranked at number 15 (in August was ranked 16).
Pablo Cortés, EY’s Sustainability Consulting Manager, said that at present the contribution of NCRE to the country’s energy matrix is between 5% and 6%, according to his studies.
Thus, he notes that the recently enacted initiative, which seeks to inject 20% of NCRE in 2025, “is a very good sign” to continue to attract investment to the country.
The nations that lead the rankings are the U.S., China and Germany. “The fact that such a small country like Chile appears at number 15, because of our market size is far the best place we could be,” he says. About countries that invest most in Chile, he says that “there is a fairly broad mix of project owners are investing.”-
Stability macro U. cie variables measuring this index is the macroeconomic stability of the country. Cortes said that Chile went very well, since it has a secure political environment and strong regulations. He highlight the Chilean regulatory framework is stable, with a good system of Environmental Impact Assessment (SEIA), and moreover, that came into force in December the new Rules of Environmental Impact Assessment which contains a number of improvements to the assessment procedure.
“All these policies are very close, because our customers are trying to make things right. They are very concerned to comply with environmental regulations and what is happening with the ILO Convention, among other things. Are all developers and project owners with enough confidence that the game is not going to change, “he says.
At the same time, he remember that Chile shows the most expensive energy of the region in the midst of the drought affecting much of the territory and the increase in fuel-, so the challenge in advancing these issues is urgent.
Thus, he notes that the challenges to consolidate this industry are given “for the issue of connectivity with networks and all the formalities to be done under the Energy Act. The government has given signals that are to reduce the time to connect to the network “, specifies Cortés.
Source: El Diario Financiero
