Chile: Chilean state-owned copper miner Codelco launches solar power tender for its buildings
Chilean state-owned copper mining company Codelco has launched a tender to incorporate solar power on two of its corporate buildings, including its headquarters in central Santiago and its Andina division building in Los Andes, Valparaiso. Photovoltaic technology will be placed on the roofs, covering about 800m2 overall, to supply energy for these offices over a period of 15 years, whilst any excess can be sold to the national grid.
Chile: Chilean tax exemptions for solar and thermal panels extended to 2020
Chile's Senate has approved the draft law that exempts solar thermal energy systems from paying tax, extending a previous exemption until 2020. Under this regulation, firms are entitled to deduct a tax credit equivalent to the whole or part of the worth of the Solar Thermal Systems and of their installation. This tax exemption, on principle, is only applicable to newly built houses.
Chile: April 2016 deadline looms for Chile's national energy commission’s (CNE) tender for the supply of renewable electric power
CNE will award 20-year power purchase agreements in May 2016 to generators, who will be required to supply output to distribution companies from 2021-41. The process will be regulated under reforms passed by legislators last year. The auction will include 24-hour and 8-hour blocks, the latter to accommodate the intermittent nature of output from non-conventional renewable energy (NCRE) sources, specifically solar and wind farms
In the bidding process the following blocks will be auctioned:
- Block 1: 5.500 GWh/a
- Block 2A: 340 GWh/a
- Block 2B: 500 GWh/a
- Block 2C: 260 GWh/a
- Block 3: 7.150 GWh/a
Brazil: Voltalia to build largest wind complex in LatAM in Brazil
French energy developer Voltalia has revealed plans to build a 1.2GW wind power complex in Brazil's north-eastern state of Rio Grande do Norte. The Serra Branca complex will be one of the world's biggest wind farm clusters and the largest in Latin America and will include 183MW of plants already in operation and projects secured at recent public energy auctions. The cluster will be 100% held by Voltalia or built in partnership.
Mexico: Mexican energy reforms could attract USD $2bn investment in renewable energy
In the wake of Mexico’s recently approved energy transition law which stipulates that 25% of the country’s power must be generated by renewable sources by 2018, 30% by 2021, 35% by 2024, 45% by 2036 and 60% by 2050, the secretary of the Mexican congressional energy committee has stated that the sector can expect USD $2bn in investment over the next 10 years. Mexico has already seen US$ 6bn investment in renewable energy since 2010 but this new law provides the regulatory framework for domestic and foreign investment in the country’s renewable energy sector.
Chile: New Direct Foreign Investment Law
On January 1, 2016 Law No. 20,848 which sets forth a new legal framework for foreign direct investment in Chile (the “New Law”) was enacted. The New Law also regulates the effects of contracts entered into during the term of Decree Law No. 600 of 1974 (“DL 600”), in order to guarantee the full validity of the rights and duties acquired by foreign investors under said legal regime. More information is available by clicking here.