Because of the slowdown in commodities markets mining companies are pulling back on expansion plans and in many cases are not very profitable on their existing production, making them a more risky PPA offtaker. More risk + foreign assets and currency = less availability (or at least higher cost) of debt.
Chilean authorities approved 579 MW of solar in June |
13.08.2013: In June, Chilean environmental authorities approved proposals for 579 MW of new PV projects, according to the latest report from Chilean renewable energy research institute Centro de Energias Renovables (CER). Authorities approved proposals for 750 MW in May. Despite the fact that Chilean environmental authorities have approved over 4.6 GW of solar projects over the last 2 years, only 75 MW of these projects are currently under construction and only 3.5 MW have come online. According to CER, construction has not begun on 4,591 MW of approved solar projects. A further 1.89 GW are currently under review. Most of the projects are to be located in and around the Atacama Desert in the north of the country, and many would be built on behalf of mining companies that have not been able to expand their operations due to limited access to electricity. According to the Chilean Ministry of Energy, many developers have been unable to obtain financing for these approved projects, hence the low level of development. © PHOTON |
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Monty Bannerman
ArcStar Energy
646.402.5076
www.arcstarenergy.com
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