Solar park to be China's biggest investment in Chile

Tue Jun 26, 2012 7:41pm IST

* $900 million, 300-megawatt solar park planned
    * Avid copper consumer China is Chile's top trade partner
    * Chinese premier Wen Jiabao on Latin American tour

    SANTIAGO, June 26 (Reuters) - Chinese renewable energy
company Sky Solar, state-backed China Development Bank and
Chilean industrial group Sigdo Koppers plan to make a Chinese
firm's biggest investment in the Andean country: a $900 million
solar energy park, export promotion agency ProChile said on
Tuesday.
    Top copper producer Chile needs significant new investment
in its shaky energy grid after years of neglect, which has been
exacerbated by a devastating 2010 earthquake, recurrent droughts
and growing opposition to major energy projects. 
    The government aims to add some 8,000 megawatts of installed
capacity by 2020 to the country's current 17,000 megawatt power
matrix.
   
    Leading copper consumer China has made relatively few major
investments in Chile, despite being its main trade partner and
sharing a free trade agreement.
    Sky Solar, the China Development Bank and Sigdo Koppers
 will ink an agreement later on Tuesday to develop the
300 MW solar energy project over the next three years, ProChile
said.
    Chinese Premier Wen Jiabao is in Chile in the last leg of an
official visit to Latin America.

 (Reporting by Anthony Esposito; Editing by Marguerita Choy)

Politics

REUTERS SHOWCASE

Fund Raising

Fund Raising

Flipkart raises $700 million in fresh funding.   Full Article 

Reforms Push

Reforms Push

Modi may order insurance, coal reforms if vote delayed - officials.  Full Article 

Reuters Exclusive

Reuters Exclusive

India looks to sway Americans with nuclear power insurance plan  Full Article 

To Boost Growth

To Boost Growth

Crank up public spending to revive growth - chief economic adviser.   Full Article 

Bold Steps

Bold Steps

SpiceJet rescue plan marks bold bet on Indian aviation recovery.   Full Article 

New Airline

New Airline

Tata, Singapore Air venture Vistara to take off on Jan 9.  Full Article 

Online Sales

Online Sales

Knock knock. Who's there? Amazon's best-selling holiday author.  Full Article 

Hacking Attack

Hacking Attack

N.Korea says did not hack Sony, wants joint probe with U.S.  Full Article 

Reuters Poll

Reuters Poll

BSE Sensex to hit 32,980 by December 2015  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage