Chile’s Ministry of National Property has issued a new regulation for using state land for the development of projects in the renewable energies sector. The new provisions were published in the country’s Official Journal in May. According to PV Magazine, the new rules will also apply to projects that are already approved.
The new provisions are aimed at making it far easier to use public land for building projects in the renewable energies sector. Under the new regulation, the maximum term of use granted is to be extended from 30 to 35 years, while the timeframe for the construction of power plants will be extended from its previous maximum of 24, respectively 48 months, to a maximum of 10 years from the conclusion of the concession agreement.
Moreover, the new rules reduce the amount of securities to be furnished to the state by the project developer for each construction phase. The regulations apply both to concessions awarded at auction as well as to direct concessions.
