Chile has 3.1GW worth of approved PV projects in the pipeline, according to a report published by Centro de Energías Renovables, the country's renewable energy body.
The report reveals that there are a further 908MW worth of PV projects currently under consideration for approval by Chilean environmental authority Servicio de Evaluación Ambiental (SEA).
These figures are significantly larger than the figures relating to the realisation of such projects. Indeed, the report cites that at present Chile only has 2.4MW of installed PV capacity in operation whilst an additional 2.5MW are currently under construction.
Chile is set to become a solar hotspot and has been identified by NPD Solarbuzz as a key emerging market in Latin America. According to the market research firm, Chile along with Mexico and Brazil are set to become mainstream markets, absorbing nearly 70% of demand in the region.
The country has attracted the attention of manufacturer First Solar, which has acquired Chilean project developer Solar Chile as part of its international expansion plans.