Solar photovoltaic and wind power are currently the cheapest source of electricity in Chile, according to an analysis of the results of Chile's recent power auction conducted by experts of Deutsche Bank.
Renewable energy projects, in fact, won 100% of the tendered contracts for the supply of 1,200 GWh. According to Deutsche Bank, three solar photovoltaic parks offered to sell power between $65 and $68 per MWh, two wind farms bid a price of $79 per MWh, while the price offered for coal power projects was of $97 per MWh.
The company, however, believes that Chile will install only 500 MW of photovoltaic power in 2016 and 400 MW in 2017. This would be a considerable decrease from this year, when over 1 GW of PV capacity is expected to be installed in the country. Deutsche Bank experts said that, although Chile has approved several gigawatts of PV projects over the past years, many of these projects are unlikely to get built until the transmission lines get fixed.
Renewable energy projects, in fact, won 100% of the tendered contracts for the supply of 1,200 GWh. According to Deutsche Bank, three solar photovoltaic parks offered to sell power between $65 and $68 per MWh, two wind farms bid a price of $79 per MWh, while the price offered for coal power projects was of $97 per MWh.
The company, however, believes that Chile will install only 500 MW of photovoltaic power in 2016 and 400 MW in 2017. This would be a considerable decrease from this year, when over 1 GW of PV capacity is expected to be installed in the country. Deutsche Bank experts said that, although Chile has approved several gigawatts of PV projects over the past years, many of these projects are unlikely to get built until the transmission lines get fixed.
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