The German government has announced it will provide up to $126 million to fund renewable energy research in Chile. Chile's National Commission of Energy announced that Germany will provide $11.5 million in grants and up to $114.5 million in loans to promote research and development in renewable energy sources, including solar power, geothermal solutions, wind power, tidal energy and biomass.
The Chilean government has also accepted an invitation by Germany to become one of the founding countries in the new International Renewable Energy Agency, a planned non-governmental organization designed to encourage the development and installation of renewable energy technologies and solutions around the world.
