At the Latam Future Energy Southern Cone Renewable Summit, Enrique Alvarez-Uria, Country Manager of EDP Renewables in Chile , shared his vision for the future of renewable energy in the country. EDP Renewables , an integrated utility company of Portuguese origin with a presence in several countries, including the United States, Mexico, Colombia, and Chile, aims to consolidate its position in the Chilean market by 2024, focusing on wind and solar power generation and the use of batteries,” explained Alvarez-Uria. https://www.youtube.com/watch?v=6JIho1i8GYw Balance and Expectations The executive described 2023 as a year of consolidation for EDP Renewables in Chile, where it has been working intensively on the construction of its first wind farm. “The experience has been positive , with strong support from both the private and public sectors. The company aims to become a key operator in Chile by 2024, not only in construction but also in the development and diversification of its portfolio, including solar, wind, and battery energy,” he noted. According to the expert, the company is confident that the authorities understand the importance of evolving regulations to ensure the continued success of renewable projects. Challenges and Opportunities EDP Renewables, initially attracted by the ability to market energy through PPAs and long-term contracts , has faced challenges such as price decoupling and overhead costs. Despite these challenges, Alvarez-Uria is optimistic about overcoming these obstacles. He revealed that the company is building a wind farm in Coquimbo and sees opportunities in bilateral PPAs, especially with the Chilean mining industry, which is seeking to electrify and decarbonize its operations. Portfolio and Contracting Vehicles The expert revealed that EDP Renewables is working with Nordex Acciona to commission its first wind farm in Chile and has acquired turbines from Goldwind . With 15 With 100 GW of installed capacity, primarily wind, the company aims to provide firm and continuous energy to its customers. The diversity of regulated PPAs and the participation of banks have been attractive to EDP, although a pause in banking interest is now observed. In conclusion, Alvarez-Uria emphasizes the need for prudence in the sector, especially considering the slow pace of regulation compared to the speed of construction of photovoltaic and wind projects. Nevertheless, EDP Renewables is committed to long-term investment in Chile, a country that has taken decarbonization seriously.
With a favorable geopolitical context and a growing demand for electrification, the company sees a promising future in the Chilean market.