The first quarter of 2016 has seen Chile install 1.1GW of solar PV plants, up from 516MW during the same time period last year. With an increase of 114% up from quarter 1 2015, only 2GW are due online by end 2018. A slight increase was also noted in wind, with an increase from 892MW to 910MW. Chile’s Center for Renewable Energy (CIFES) shared in its monthly report that by 2018, the country aims to add a further 482MW.
A majority of the new installations around the country have been developments in solar; which have seen a rise to from 2.2GW to 2.9GW between 2015 and 2016. Chile currently has 2.7GW renewable energy projects under construction, which are due to enter into operation within the next two years. Of these, solar represents the vast majority with 2.1GW.
According to the CIFES report, the first quarter of the year saw an increase of around 254MW in solar, in addition to 6MW wind and small hydro and biomass projects. With this, the country continues to hold its position as the largest solar market in Latin America.
While 10% of Chile’s power demand is now successfully met through renewable energy, their current volume is set to double under mandates set by new legislation. The legislation sets a new objective of 20% renewable energy in 2025, as well as further targets during the preceding years.
Solar Reserve, the leading US global developer of utility-scale solar power projects, was granted approval for the 750MW solar PV/CSP hybrid plant in Tamarugal, one of two provinces in the northern Chilean region of Tarapacá, in need of investments of around $2.7 billion. Other projects already established in Chile include the 100MW Amanecer Solar CAP plant located in Copiapo and the 79MW Pampa Norte PV plant by major renewable energy generation giant, Enel Green Power. Chile now plays host to the largest PV plants in Latin America.