Are multinational companies investing in wind energy in Chile?

Many multinational corporations and local firms are investing in the growing wind sector with the help of the government of federal provinces in Chile. As of 2022, total renewable energy installed in the country accounted for 17,910 MW, comparatively higher than the 14,890 MW installed in 2021.

What is wind energy in Chile?

Wind energy refers to the process of using the movement of air to convert it into mechanical power or electricity. The Chilean wind energy market is segmented by location of deploymen into onshore and offshore. The market size and forecasts for each segment have been done regarding installed capacity.

How much does the Chilean wind energy project cost?

The project has an investment cost of around USD 750 million. Hence, owing to the above factors, the onshore wind energy segment is expected to grow faster in the Chilean wind energy market during the forecast period.

How much wind energy does Chile have in 2022?

According to the International Renewable Energy Agency, As of 2022, Chile had installed 3830 MW of onshore wind energy, which was comparatively higher than the 3,137 MW established in 2021. The country has ambitious plans for renewable energy.

Does Chile have a solar market?

Over the past decade, the Chilean market alone has witnessed remarkable growth in solar and wind energy, increasing from zero installed capacity to 8,593 MW in 2022, as reported by Chile’s Independent System Operator (Chilean ISO annual report).

When will Enercon e-160 EP5 wind turbines be installed in Chile?

In December 2022, FairWind was chosen as the installation partner for Horizonte Wind Park in Chile, the largest onshore wind farm in Latin America under development. 140 Enercon E-160 EP5 wind turbines will be installed beginning in February 2023 and will be completely operational in May 2024.