Chile to Hold 5.25GWh RE Auctions Over Next 15 Years

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The Chilean Energy Regulator (CNE) has launched an auction to provide 5.25GWh of electricity to the national grid. This will take placevover a period of 15 years and the addition of electricity will begin from 2027.

The new information has been shared by the Regulator on its website. According to the latest note, the consultation period for participants will last until April 1, 2022. The participants in the auction will be able to carry out rectifications, amendments or additions to their proposals until May 2, 2022.

The official website of the regulator says that all offers must be submitted by July 1 and the final results will be announced by the government between July 25 and August 1, 2022.

The last energy auction happened in Chile in August last year in which the Chilean Energy Regulator assigned more than 2.3 TWh of renewable energy to the national power system. In the said auction, the lowest price submitted was $0.01332/kWh.

The latest figures from the Chilean Association for Renewable Energy (ACERA) say that Chile’s cumulative PV installations grew to 4.6GW at the end of March, 2021. Utility-scale PV plants account for most of the country’s current installed solar capacity. Against this, rooftop photo voltaic has shown minimal performance as it accounts for just 167 MW.

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Chile, the South American country that spans 2600 miles from north to south on the coast of the Atlantic, is sun-drenched and wind rich. Covering most of the Andes Mountains, the country has the highest share of renewables in Latin America. Addition of 5.25 GWh will further its stature in the comity of nations, let alone South America.