In recent years, fossil fuels have decreased their share in Chile’s energy matrix. However, experts point out that there are still challenges to continue promoting the generation and use of non-conventional renewable energies.

Renewable energies continue to increase their participation in our country’s energy matrix. This is revealed by data from the News Report of the National Electric Coordinator (CEN), which shows that during the first quarter of 2024, electricity generation based on non-conventional renewable energies (NCRE) reached 41% of the total energy produced in Chile, in a scenario where the accumulated generation based on wind, solar, hydro, biomass, geothermal and biogas energy grew 4 points compared to the first quarter of 2023.

At the same time, the document reports the decrease in generation from fossil fuels: in March, coal decreased by 5.32% and natural gas by 31% in its contribution to electricity generation. In the accumulated first quarter of this year, the former decreased 1.14% and the latter decreased 31.86% compared to 2023.

How to move forward?

Countries need to make their project approval system more efficient, predictable and secure, says Albagli Zaliasnik’s Regulatory Markets and Public Law lead partner, Antonio Rubilar.

“In the case of Chile, concrete measures are already being taken by the government to make the permitting system more accessible and eliminate its unpredictability,” he explains, adding that as long as there are secure, fast and efficient permitting systems, “the private sector dares, financiers are better prepared to take such risks, and a virtuous effect is produced”.

Source: Diario Financiero, June 25, 2024.