The Chilean state oil company ENAP has struck a deal with ConocoPhillips to explore and eventually exploit gas deposits in the country's Magallanes region.
Chile’s solar industry has expanded so quickly that it’s giving electricity away for free.
Independent power producer Rame Energy has signed a number of commercial agreements and a contract to sell two existing Chilean projects under development to InterEnergy Holdings.
Power producer and developer Rame Energy has sold its stake in the 15 megawatt Raki and Huajache on-grid wind projects in Chile for $4.4million.
Rame Energy, the UK-based power producer, reported grew its revenue more than six fold in the first half of 2015 as projects in Chile came on stream.
Chile's state oil company ENAP is set to postpone projects in the Ecuadorian Amazon as a result of the oil price decline. According to reports, both the country's central government and local authorities have agreed to the move. Last month, Ecuador signed an $82million production contract with ENAP for the oil block Paraiso-Biguno-Huachito.
With the sunniest desert on Earth, a windswept coast and limited fossil fuel supplies, northern Chile has become the world’s top market for renewable energy. The government of President Michelle Bachelet has approved 76 solar and wind projects since taking power March 11. Renewable energy developers are pursuing contracts to deliver electricity to mines run by by companies including Anglo American Plc (AAL) and BHP Billiton Ltd (BHP), which consume a third of the country’s power.