The Inter-American Development Bank (IDB) approved a $100m loan for a programme to improve Chile’s energy sustainability through reforms in the sector, helping the country reach its goal of 20% non-conventional renewables by 2025.
Under the programme, Chile will develop a long-term energy policy, which aims to encourage the use of renewable energy sources, boost competition in the energy market, stimulate energy efficiency and support regional energy integration, including connecting the two large national subsystems.
“The features of the program are so innovative and all-encompassing that they can make this energy policy reform process in Chile a model for other countries of Latin America and the Caribbean,” said Enrique Rodriguez-Flores, IDB project team leader.
