There is, however, a notable exception to this climate-blind rush in Latin America towards hydrocarbons. Chile has put together one of the world’s most ambitious plans for renewable energy, hoping to capitalise on the blessings of abundant strong winds in southern Patagonia and fierce sun in the northern Atacama Desert to generate green electricity at rock-bottom prices. Investors have noticed. More than 40 per cent of foreign direct investment in Chile last year went into renewable energy and the country has been ranked top in the world for attractiveness by Bloomberg’s Climatescope. The Chilean vision does not stop at green electricity. The government hopes to establish the Pacific nation as a leading global exporter of green hydrogen, a fuel produced without emissions, which has excited some experts because of its environmental credentials.
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