The capital city of Santiago, home to more than 6 million Chileans, will serve as the South American base of operations for Array Technologies, Inc., and the company’s first sales office in Latin America.
2013 was a milestone year for Chile, as the government signed a new law requiring utilities to generate at least 20% of their energy from renewable sources by 2025, up from their previous obligation of 10% by 2024. In August 2013 alone, Chile’s Foreign Investment Committee awarded land concessions for 17 projects totaling 604 MW of solar capacity. The current pipeline of approved solar projects reached 4 GW at the end of 2013, while the overall potential in Chile is currently estimated at 200 GW by solar industry experts.
“This upturn in renewable energy requirements positions Chile to be one of the principal solar markets of this decade and beyond,” explains ATI Founder and CEO, Ron Corio. “Prime conditions for solar tracking ground mount projects, combined with the growing market potential makes this is an opportunity we simply could not ignore.”