Canadian solar power producer Etrion has opened an office in Santiago, Chile, the company has announced. The company is trying to break into the Chilean market and is currently in negotiations for a power purchase agreement (PPA) for the construction of a 5MW PV project in Chile. Etrion is expecting to sign more PPAs for possible PV projects throughout the year.
Interest in Chile's potential as a solar market has increased recently. The country has a high solar irradiance, especially in the north and wholesale prices for electricity are high. The country does not yet have a feed-in tariff scheme but mining companies are willing to fund PV projects because solar energy offers a more reliable energy source. Etrion currently has a portfolio of 60MW of PV plants in Italy.
Marco A. Northland, Etrion’s CEO, commented: “I am very pleased with the progress we are making in Chile. Projects we are discussing with potential clients are at grid parity, which is very exciting news for our industry. We are also pleased to confirm access to long-term financing in Chile at competitive terms. There is still a lot of work to do however Chile is a sustainable market which we can develop without being at the mercy of subsidy changes. Long-term cost reduction trends in solar should enable Etrion to become ever more competitive with other sources of energy. If we are at grid parity today, we should be in better position tomorrow.”