|Policy Status||In force|
|Agency||•Chilean Economic Development Agency (CORFO) and National Energy Commission (CNE)|
•Biomass for Power
•Multiple Renewable Energy Sources
|Size of Plant Targeted||Large|
|Description||The Invest Chile Programme is a National Energy Commission (CNE) - Chilean Economic Development Agency (CORFO) cooperation plan aimed to support renewable energy projects and finance renewable energy generation nationwide.
The programme provides non-conventional renewable energy (NCRE) projects connected to the grid with pre-investment stage financial incentives. First, the programme subsidises 50% of the total cost, with a USD 60,000 cap, of pre-feasibility studies and 50% of pre-investment studies with a maximum of USD 160,000. In the period 2005-2008, some 130 wind, biomass, biogas, geothermal and small-scale hydroelectric projects benefited from such a support.
Second, the programme provides NCRE projects with long-term grants of up to USD 15 million over a 12 year-period.
Third, transmission line extension projects that ease NCRE plants' grid access difficulties are entitled a subsidy of 50% of their initial investment, up to a maximum of USD 300,000/year.
In addition, the High Technology Investment Programme seeks to attract technology intensive foreign investments. To do so, it guarantees foreign investors with a grant of up to 40% of their initial investments in equipment and infrastructure, with a USD 2 million cap. Simplified access to long-term property leasing and financial support for training and recruitment projects are also offered to renewable energy service and generation companies.
In addition, Invest Chile is a discussion platform that plans annual NCRE promotion conferences gathering international investors, industries and government representatives.