The Chilean Renewable Energy Association (ACERA) sees Chile's new 2026/01 Supply Tender as an opportunity to revive long-term regulated contracting , but also as a process that could raise the barrier to entry for new renewable energy players .
“What we find concerning is that the generator will be required to demonstrate a match between the process of obtaining financing and the time of submitting the offer,” warned Ana Lía Rojas , executive director of ACERA , in dialogue with Energía Estratégica .
The organization's concern is not to eliminate controls or relax the rigor of proposals, but rather to ensure that the financial filter is calibrated proportionally . ACERA believes the requirement can streamline the process, provided it does not anticipate demands that, in practice, depend on the award itself.
“I think it is less expected that a project that is just being submitted for bidding has, at that stage, obtained financial closure,” Rojas said.
The competitive risk arises when that standard becomes more accessible to companies with larger balance sheets, operating portfolios, or corporate financing capacity. In that scenario, greenfield developers could be at a disadvantage even if they present viable and competitive projects.
“It’s difficult to distinguish the benefit and the impact of this condition. While it’s true that it reduces the risk of having speculative projects, it also restricts the options for bids that, while serious, do require time to achieve financial closure,” he stated.
Annex 18 of the preliminary terms requires proof of financial closure and a valid, unconditional, and current Notice to Proceed (NTP) for the main EPC contractor at least 18 months prior to the Deadline. ACERA believes this standard improves the enforceability of bids, but it may pose a barrier for developers without advanced debt or fully mature EPC contracts.
The process involves 2,835 GWh/year , divided into two blocks: BS1, for 1,575 GWh/year for the period 2029-2043 , and BS2, for 1,260 GWh/year for the period 2030-2044 . Both will have 15-year contracts, segmentation into four zones and three time blocks: night/early morning, daytime, and late afternoon/evening.
“I believe the most important point is that a significant volume of regulated demand is activated in the process, which always gives dynamism to the regulated customer contract market,” Rojas noted.
The return of long-term contracts is also considered a positive sign for the bankability of new projects. Unlike recent shorter processes, this tender offers a revenue horizon that allows for more predictable planning of infrastructure investments.
“These are again 15-year contracts. That is, a long term to allow for the necessary investment decisions for these projects, which are infrastructure projects,” he emphasized.
Furthermore, the start of supply in 2029 and 2030 provides a window of opportunity to advance in permits, financing, construction and connection, four stages that usually define the real viability of renewable power plants.
From a commercial perspective, time-of-use and zone-based segmentation allows for a better assessment of when and where energy is delivered. The daytime block accounts for 44.4% of the total volume tendered , favoring competitive solar bids, while the nighttime and evening blocks require more diversified portfolios, storage, contractual backup, or controlled exposure to the spot market.
At the same time, ACERA highlights that the guidelines incorporate positive signals for energy storage. These systems are recognized as valid backup and can improve the competitiveness of renewable energy bids capable of shifting energy to times of lower solar availability.
However, the industry association warns that the treatment of storage still requires greater precision. Among the points to be clarified are the one-day cycle rule, degradation, availability, charging energy, curtailment, and the valuation of systemic attributes —all elements that affect the economic modeling of hybrid and BESS projects.
The requirements for backup power also add pressure on suppliers. Backup contracts can protect continuity of supply, but if the supplier defaults, it could lead to a partial transfer of the contract to the backup generator, maintaining the price, indexation, and quantities.
Another issue is the performance bonds, set at UF 600 per GWh contracted for the last year of the block. For smaller companies, this requirement can represent a significant cost in terms of liquidity, guarantees, and counter-guarantees.
Contractual bottlenecks can also arise in direct agreements with existing facilities. When a bidder relies on third-party assets to support its proposal, it will need to coordinate contracts between the owner, supplier, and the bidding entity, which can add legal and operational complexity.
Therefore, ACERA's assessment is positive, but conditional. The tender could boost new renewable investment and storage if the requirements are well-calibrated; but it could also concentrate the awards if the financial and contractual standard proves more accessible to large incumbents than to new developers.