Chile has signed a declaration to co-finance the local Marine Energy Research & Innovation Centre.
The project was awarded last year to French DCNS and Italian Enel Green Power, and is the first centre of its kind in Latin America.
The project will cost $20 million – 58% of which will be funded by the state.
As a result of the project, Chile is expected to become a regional and world reference in marine energy, taking full advantage of its coastline and tides.
The project will be developed in a cooperation with Fundacion Chile, Inria Chile, the Pontifical Catholic University, the Austral University and power distributor Chilectra.