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The investment boom in photovoltaic power generation in Chile is not decreasing

2024-03-13

According to Chile's "Three o'clock News" on February 22, at the beginning of 2024, 20 photovoltaic power generation projects have submitted environmental impact assessment applications to the Smart Environmental Assessment Authority (SEA), accounting for a quarter of the total number of applied projects. The total investment amount is 2.023 billion US dollars, including four large-scale photovoltaic projects with investment amounts exceeding 200 million US dollars. Among them, the Carolina Sola and Don Patricio photovoltaic parks have the highest investment amounts, with estimated investment amounts of 380 million US dollars and 368 million US dollars respectively, located in the Maule and Capital regions, with installed capacities of 497 MW and 200 MW, respectively. According to statistics from Chile Power Group, the installed power generation capacity in Chile reached 34577 MW in 2023, and is expected to increase to 41191 MW this year. Among them, the installed renewable energy capacity is 23204 MW, which is expected to increase to 29763 MW, and the installed photovoltaic capacity is expected to increase by 47.4% to 13770 MW, the largest increase. The industry believes that one of the reasons for the rapid growth of solar power generation is that small distributed generation projects (PMG/PMGD) enjoy regulatory policy advantages, that is, power generation projects with an installed capacity of less than 9 MW can obtain a single stable price for 24 hours, almost reaching the level of coal-fired power prices, which to some extent increases the attractiveness of photovoltaic project investment

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