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Renewable energies represent 20.8% of the electricity matrix in Chile, which makes this market very important and the necessity of investment and new project creation an everyday matter. Right now solar energy is positioned as the third source of electricity generation in the country with over 3 billion USD of investments for current and future solar parks and plants around the country. Wind energy is not left behind either: it has a projected investment of around 5 billion USD including the largest wind park in Latin America, which places Chile within the ranking of countries with more investments in and better promotion of renewable energy. Experts estimate that, by 2025, 56% of the added generation capacity will be from renewable sources for Chile.
The Latin American renewable market has favorable policies and renewed regulations will drive growth in the region until 2020. According to market trend analysis renewable energies are among the top 5 growth markets. Currently, government policies and renewable energy legislation play a vital role in the development of renewable energy sources. Countries around Latin America are aware of this and have enacted favourable policies to encourage investment in non-conventional energy sources such as wind, solar, hydroelectric, geothermal and biomass. Countries such as Mexico, El Salvador, Argentina, Brazil, Chile and Colombia are implementing these laws and taking these regulations to the benefit of their projects. Countries, besides investing in generation, distribution and storage of energy, invest also heavily in new related technologies for maximized production and innovated storage.
At the 2nd Latin America Renewable Energy Distribution, Generation & Storage Summit, which will be held on Santiago, Chile on September 12th and 13th , government authorities, institutes, utilities, developers, operators, technology providers, banks and EPC companies will be gathering to discuss the newest developments and innovations in place as well as the opportunities and future needs of technologies.