NSL Group to Triple Chile's Wind Power Capacity

By Admin
Chiles economy has been on the rise, and part of its economic success is high investment in energy development. The country has in recent years expand...

 

Chile’s economy has been on the rise, and part of its economic success is high investment in energy development.  The country has in recent years expanded its oil production and geothermal has played a significant role in the country’s energy infrastructure development.  Now, with a huge investment from India’s NSL Group, Chile may triple its installed wind power capacity.

NSL Group’s subsidiary ReGen Powertech Pvt. Is the fifth largest wind turbine manufacturer in India and the group plans to invest $650 million in installed wind power in Chile.  NSL acquired the rights to develop 400 megawatts of wind farms throughout five separate adjacent sites.  The company will invest the funds over the next three years.

SEE OTHER TOP STORIES IN THE WDM CONTENT NETWORK

Floating Wind Turbines Capture Deep Sea Power

Ontario's Solar Market Boom

Read the latest issue of Energy Digital!

NSL’s project will be one of the biggest wind power investments in South America to date. 

Currently, Chile has roughly 172 megawatts of installed wind power.  However, despite the country's investment into the energy sector, electricity rates have tripled since 2005.  In fact, the ramped up energy investment is likely a result of the power shortage as industrialization demands more electricity.  The country is a hotbed for renewable energy investment, and is attracting investors from all over the world due to its favorable renewable energy policies and economic stability.       

According to NSL Chairman Mandava Prabhakar Rao, the wind projects “would act as a springboard to capitalize” on other regional opportunities. 

Share

Featured Articles

UK Government awards £54mn in heat network funding

Funding will support the development of schemes in London, Bedfordshire and Woking that use low-carbon heat sources

Shell posts $11.5bn second quarter profit

Shell's earnings fuelled by ongoing price rises and geopolitical instability as the energy major places greater focus on natural gas investments

bp opens first electric truck fast-charging facilities

Operated by bp’s Aral brand, the retail site at Schwegenheim in Rheinland-Pfalz has two 300kw chargers intended for electric trucks

Shell commits to developing Jackdaw gas field in North Sea

Oil & Gas

Prospex Energy raises £1.87m for Selva gas field development

Oil & Gas

Shanghai Electric Group launches low carbon business

Utilities