Chilean Economic Development Agengy (CORFO)
CORFO provides financial support to Chilean firms to help them improve their competitiveness in national and international markets. It supports entities that range from individual companies and networked firms to full production chains, including clusters of geographic groups of companies working in a particular industry. CORFO's mission is to promote the establishment and growth in Chile of innovative, dynamic and accountable firms with access to global markets by supporting high-impact projects that contribute to making Chilean's aspirations for growth and prosperity a reality.
| Debt Financing |
| Expert Advisory |
| Grants |
| Guarantees |
| Incubator |
| Rebates and Subsidies |
| Seed and Angel Financing |
CORFO has supported renewable energy projects since 2005, mainly for electricity generation from small-hydro, wind, biomass and biogas sources. CORFO provides subsidies for feasibility studies and long-term loans for project finance.
In 2009, CORFO is working on three new instruments:
- Subsidy for transmission lines aimed at helping groups of Renewable Energy projects far from the grids and relatively close to each other.
- Subsidy for deep geological drilling related to geothermal exploration.
- Subsidy for two solar plants in Chile connected to the grid, one PV and the other SCP.
The Finance Division is also working on a new instrument to guarantee long term loans for renewable energy projects.
Equity: US$ 4 billion; Assets: US$ 4.2 billion. Of those, US$ 2.1 billion are investments in companies in which the Chilean State has a stake through CORFO.