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Solar Energy Is Cheapest Source of Power in Chile, Deutsche Says

  • Country expected to install 1 gigawatt of solar this year
  • Solar and wind offered lowest prices in October energy auction

Solar power is now the cheapest source of electricity in Chile, according to Deutsche Bank AG.

That conclusion is based on the results of an energy auction in October when renewable projects offered the lowest prices and won contracts to supply 1,200 gigawatt-hours of power, Deutsche Bank analyst Vishal Shah said in a report Tuesday.