In comparison, projected investments in thermoelectric and hydro projects in the same period add up to $13bn and $5.3bn respectively.

The country's investment agency, SOFOFA, says the projection in December 2014 for registered investments in renewables was $49.7bn.

The agency says that at the end of last year, 279 renewable-energy projects were registered as active. More than 60% of the projected capacity will start operation in 2017 and 2018 in the northern regions of Atacama and Antofagasta.

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