Invest Chile Project

Country	Chile
Year Implemented	2005
Policy Status	In force
Agency	•Chilean Economic Development Agency (CORFO) and National Energy Commission (CNE)
Further Information	•www.todochile.cl/incjs/download.aspx?glb_cod_nodo=20080827173707&hdd_nom_archivo=Project_Directory_2009.pdf
Policy Type	•Incentives/Subsidies   •Grants •Regulatory Instruments   •Regulatory Reform
Policy Target	•Bioenergy   •Biomass for Power •Geothermal   •Power •Hydropower •Multiple Renewable Energy Sources   •Power •Wind
Policy Sector	•Electricity
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.
URL	www.todochile.cl/default.aspx