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Renewable energy cheapest for drought stricken Chile

 "Renewable energies require a greater investment but they
have low production costs," said Mabel Weber, an energy analyst
with Banchile Investments. "The more prices rise, the more
viable alternative energies look."...Energy prices have nearly tripled in five years, leading

companies to covet the cost stability offered by wind, solar
and geothermal power......

Costly Chile power may jolt renewable energy Feb 10, 2011  By Brad Haynes OVALLE, Chile, Feb 10 (Reuters) – A long drought has dried up hydroelectric power production in Chile, sending electricity costs soaring and making renewable power sources like wind, solar and geothermal more attractive, particularly to energy-hungry miners reaping a copper windfall.

 "Renewable energies require a greater investment but they
have low production costs," said Mabel Weber, an energy analyst
with Banchile Investments. "The more prices rise, the more
viable alternative energies look."
 Scarce rains from the La Nina weather pattern have slashed
hydroelectric output in Chile, the world's top copper producer.
Generators must rely on plants powered by costly imported oil
and gas, compounding inflation risks in the booming economy.
 Energy prices have nearly tripled in five years, leading
companies to covet the cost stability offered by wind, solar
and geothermal power......
State miner Codelco has committed $700 million to a 250 MW
wind farm that may be the largest in Latin America when
finished, UPDATE 1-ANALYSIS-Costly Chile power may jolt renewable energy | Metals & Mining | Reuters

February 11, 2011 - Posted by Christina Macpherson | renewable, SOUTH AMERICA