Chile Backs Renewables Auctions (reNews)
Chile has moved a step closer to implementing renewable energy auctions after the country’s Senate approved legislation outlining fundamental market reforms.
The new regulations allow for the Ministry of Energy to hold annual tenders for “blocks” of power to be supplied from “unconventional” renewables such as geothermal, wind, mini-hydro, biomass and solar.
The legislation also sets a new renewable energy target of 20% by 2025, an increase on the previous goal of 10%. Chile’s renewables industry and some senators had been pushing for 20% by 2020.
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