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Denée Reaves’s Blog

Latin America Green News: renewables fund for Chile, marine monitoring in Costa Rica, forest loss in Mexico

Denée Reaves

Posted August 26, 2013

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Latin America Green News is a selection of weekly news highlights about environmental and energy issues in Latin America.

August 19-23, 2013

Chile

BCI Asset Management has joined renewable energy company Antuko Energy to launch a new fund that will help make dozens of renewable energy projects financially viable. The fund will be used  to stabilize energy prices by buying energy blocks at a fixed price that will then be sold under contracts or in the spot market.  The fund will begin with $15 million and will acquire a maximum of 750 GWh. (Pulso)

The National Geology and Mining Service  approved the volcanological studies presented by Energía Austral for its Cuervo dam, part of the second largest hydroelectric project proposed in Patagonia. The approval of the new studies eliminates one of the major remaining barriers to the project. The dam was approved last year, but the Supreme Court declared the approval illegal because soil and volcanoglocial studies had not been conducted, and ordered the company to present a new study.  (La Segunda 8/23/2013)

Costa Rica

The first of 17 radars to monitor marine resource will be installed in Coco Island. The radar will have a satellite connection to facilitate monitoring. The radar is expected to start operation in 2014 and will help strength environmental monitoring on the island and along a radius of 100 miles around the island. (8/14/2013)

In September, Costa Rica will host the Forum on Climate Vulnerability which will gather government representatives from twenty countries considered highly vulnerable to climate change. During the forum, leader will discuss climate change risks and benefits of collective action. (El País 8/22/2013)

Mexico

The energy reform initiative proposed by President Peña Nieto fails to lay out how Mexico will boost renewable energy production, according two local civil society groups. Although the National Energy Strategy aims to increase renewable generation  35% by 2024, the president’s new proposal continues to focus on fossil fuels, particularly exploiting shale gas and deepwater oil reserves. (Animal Politico8/19/2013)

Environmental degradation including forest loss, water contamination and air pollution cost Mexico the equivalent of 7 percent of its GDP.  Noting that over the past ten years Mexico has lost 6 million hectares of forestland, Senator Benjamín Roble Montoya has asked the Ministry of the Environment to account for actions taken to halt this accelerated degradation of the nation’s forests. (Uniradio Informa 8/17/2013)

For more news on the issues we care about visit our Latin America Green News archive or read our other International blogs

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Switchboard is the staff blog of the Natural Resources Defense Council, the nation’s most effective environmental group. For more about our work, including in-depth policy documents, action alerts and ways you can contribute, visit NRDC.org.

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