Chilean President Sebastian Piñera choses EGP's under construction Valle de los Vientos wind farm to announce the 20/25 renewable energy development law, showing the Group's commitment to Latin American development.
Enel Green Power has once again confirmed its key role in the development of renewable energy in Chile, with the country's President Sebastian Piñera choosing the Valle de los Vientos wind farm, which EGP is building in the north of the country, as the place to announce the important 20/25 law on the development of renewable energy and to publish the law on electricity licences.
The President, who was accompanied by the Energy Minister Jorge Bunster and Mining Minister Hernán de Solminihac, was welcomed to Valle de los Vientos by EGP Country Manager for Chile and the Andean Countries Salvatore Bernabei.
The law enacted by President Piñera is important because it doubles the share of renewable energy in the country's generation of electricity from 10 to 20 percent by 2025, while the law on electricity licences aims to make licensing procedures more streamlined.
The choice of Valle de los Vientos as the location for this ceremony is an acknowledgement of EGP’s commitment to the growth of renewable energy in Chile. Besides the 90 megawatt Valle de Los Vientos, which will produce more than 200 gigawatt-hours per year when it is put into service, EGP has also started building the 99MW Taltal, which will be its largest wind farm in this country. Moreover, this site was opened after operations begun for the 90 MW Talinay wind farm, which generates as much as 30 percent of the total wind power energy produced in Chile.
EGP also has two hydropower plants in Chile, with Pullinque and Pilimaiquen totalling 92MW of installed capacity, while it has been given eight licences for the exploration of underground geothermal resources and is about to build Cerro Pabellón, the first geothermal power plant in South America.
In order to support planned investments in its Chilean operation, EGP Latin America has also agreed a funding contract for $100million with the Banco de Crédito e Inversiones.