3rd International Meeting on Non Conventional Renewable Energy:CORFO Strengthens Portfolio of Sustainable Energy ProjectsPublished: October 15, 2008
For four years, the Chilean Economic Development Agency has promoted innovation that favors diversification of energy sources, supporting more than 120 NCRE investment projects.
The Meeting is the most important NCRE event in Chile and the region, gathering every year hundreds of international investors, consulting companies, equipment providers and sector specialists. Registrations on www.chilenergy-corfo.com
Organized by CORFO (Chilean Economic Development Agency), the 3rd International Meeting on Non Conventional Renewable Energy (NCRE) Investment and Clean Development Mechanism (CDM), will take place in Chile between October 30th and 31st. The meeting will be carried out within the framework of the World Conference of Climate Change and Renewable Energy, which this year also takes place in our country, making Chile a reference point on clean energy and sustainable development.
For four years, CORFO has promoted an Investment Attraction and Promotion Program for NCRE - small hydro, wind, bio-mass and geothermic, among others-, encouraging their development in Chile by taking advantage of our unique geography, natural resources and economy.
In this context, President Michelle Bachelet's concern for renewable energy is notable, being the first administration to define goals for renewable energy generation as State policy, with the commitment that by 2010, 15% of all new energy will be generated from NCRE. The recent enactment of the Renewable Energy Promotion Law, on April 2008, emphasizes this commitment, with the obligation for electric companies to provide at least 5% of their annual energy from renewable sources. This added to the $400 million dollars recently announced to boost this sector.
In addition to the meeting organized by CORFO, there will be many activities during the week, starting October 28th, to focus the international debate on clean energies and the carbon market. Among these are: The Latin American Carbon Forum; the CDM Executive Board Meeting ? carried out for the first time outside of its headquarters in Boon, Germany; and the CDM National Designated Authorities Forum. The institutions in charge of the coordination of these activities are Conama and Prochile.
It is estimated that around 200 investors will participate in the NCRE and CDM International Meeting, more than a 100 of which will be foreigners, mainly from Spain, Germany, Italy, USA and Brazil. The event aims to promote investment on renewable energy, allowing access of financing to non-traditional project developers from different regions of the country, by bringing together this emerging niche market and creating strategic cooperation alliances.
"The evolution of NCRE projects supported by CORFO has been very satisfactory, proving important business opportunities to this sector. In 2006, we were able to gather an important portfolio of projects under study; by 2007, investing announcements started and one project began operations, and for this third meeting, we have 12 projects under construction," said Javier García, Deputy Head, Investment and Promotion Division- CORFO.
It is important to take into account that the two previous versions of the International Meeting for NCRE and CDM Investment brought together more than 1,200 attendees, over 1,500 simultaneous business meetings taking place between local businessmen and international financers from over 18 countries.
Registrations in www.chilenergy-corfo.com
More information:
Fabiola SamhanCORFO
Tel: (2) 6318819
fsamhan@corfo.clBeatriz PulidoBurson Marsteller
Tel: (2) 751 7130
beatriz.pulido@bm.com