Chile

The Swiss-based power producer reported its Q1 2018 financial results. After the company ditched its Chilean project portfolio, some numbers look grim, but performance in the Japanese market appears more promising.

The project, Sol de Tarapacá, will be located in the municipality of Pozo Almonte, in Chile’s northern region of Tarapacá.

The National Mining Company of Chile (ENAMI) will be the first Chilean mining company that will have all of its electricity demand covered by clean energy sources. Supply of electricity under the long-term PPA will begin in April 2018.

The Chilean National Energy Commission will become the country’s first public entity to adopt such technology, which it will begin to use in March.

The U.S. government’s Overseas Private Investment Corporation (OPIC) increased clean energy financing in 2017, despite the arrival of the Trump Administration and an ongoing investigation.

Although official statistics report that grid-connected PV capacity reached 1.82 GW as of the end of December 2017, the completion of two large-scale projects totaling 215 MW in early January has raised Chile’s total installed power to around 2.04 GW.

The head of the Chilean Economic Development Agency (Corfo), Eduardo Bitran said that Tesla may partner with local lithium manufacturer, SQM in the construction of a factory. The Chilean government and SQM have recently settled a dispute that began in 2014.

The Chilean government said that existing coal power plants will be gradually closed, although by 2030, the fossil fuel is still expected to account for 25% of thermoelectric power production. Renewables, however, are forecast to cover the remaining 75%.

The portfolio consists of 12 solar plants to be developed under Chile’s PMGD Program for distributed generation.

Through this operation, the U.K. investor, which already owns a 40% interest in the Javiera solar plant located in the Antofagasta region, consolidates its position in the Chilean solar market.