Banks Question Cost of Chile’s Renewable Energy Revolution
- Companies may struggle to finance solar plants and wind farms
- Renewable energy producers have pledged to slash prices
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The renewable energy companies that are promising the cheapest electricity in Chile’s history may have overreached themselves as banks and investors balk at the risks.
Companies such as Solarpack Corp. Tecnologica and Mainstream Renewable Power Ltd. have pledged to provide electricity at prices between $29.10 and $41.10 a megawatt-hour after winning contracts earlier this year. Now, all they need is someone to lend them the money.