Chilean President Michell Bachelet signed a law yesterday requiring the country’s electric utilities to invest in nonconventional energy sources (NCES.
The law requires that NCES (defined as wind, solar, geothermal, hydraulic and other forms of energy that have low environmental impact) account for at least 10% of the nation’s electricity supply by 2024. The bill was unanimously approved by the Chilean Congress earlier this month.
Chile, which imports nearly all of its fuel, has been struggling with energy shortages amid cuts in natural gas from sole supplier Argentina and lower hydroelectric reservoir levels caused by limited rainfall.
Legislators hope the new law will help the country diversify its energy supply, as it attempts to keep up with its growing industries, particularly copper mining.
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