Chile Looks Toward a Renewable Future

Chile is starting to make some significant moves on clean energy.


The worst economic slump since the Great Depression has sent a ripple through economies worldwide. Chile has been no exception.

Battered by falling exports and weaker mineral prices, its trade surplus shrunk 42% in the first half of this year. But despite the recent gloom, Chile remains the region's strongest and most stable economy with robust GDP growth and some $23.5 billion in foreign currency reserves.

The nation had been slow to take real action until enacting clean energy legislation last year, a move that set a renewable target of 10% by 2020. The country's only operating wind project, a 20 MW farm owned by Spanish utility Endesa (Empresa Nacional de Electricidad S.A.) (NYSE:EOC), will eventually have plenty of company.


Link: http://www.energyboom.com/emerging/chile-looks-toward-renewable-future