Monday, March 30, 2009

Green investment in Chile -- Irish firm to invest $1 billion in wind farms

Ireland's Mainstream Renewable Power has just announced plans to invest more than $1 billion in Chile over the next five years in the construction of wind farms, according to company CEO, Eddie O'Conner.

Mainstream Renewable Power will partner up with Andes Energy, Chilean energy company in order to lay the foundation for a system which will generate more than 400 MW of electricity.

O'Conner presented a report to the Chilean Energy Minister Marcelo Tokman this past Tuesday outlining how if certain strategies are implemented correctly it would be possible for Chile to achieve energy independence.

“Our research shows that Chile has the natural resources to develop 44,000 megawatts of wind energy and another 37,000 of solar energy. Renewable energy resources alone can turn Chile into an exporter of clean energies.” O’Connor said.