The 2006 CORFO (Chilean Economic Development Agency)
event was very successful, hosting more than 500 participants, 140 foreign investors and 400 business meetings.
Positive results from the investment meetings include the contract signed between Econergy International & the developers of the 25MW Laja project - an investment of US$9M equity in the Chilean hydro scheme.
As part of the agreement, Econergy International will own 50% of the project, which is expected to generate an average of 140GWh per year.
This year 80 renewable energy projects from the investment portfolio are seeking investors. The projects this year range from bioenergy, mini-hydro, wind to geothermal power. The investor portfolio not only has more quantity than 2006, but it is also even more attractive from an investor point-of-view this year.
The Chilean government has made its intentions clear - according to a recent law proposal electricity companies will have to generate at least 5% of the power from renewable sources.