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Monday
Aug252014

Pattern Turns to Solar After Building Top Chile Wind Farm

Pattern Energy Group Inc (PEGI:US), the developer of Chile’s biggest wind farm, plans to proceed with a solar plant in the top copper-producing nation’s Atacama Desert.

Pattern received an environmental permit for one solar project in Chile and is interested in developing more renewable-energy plants in the country, Chief Executive Officer Michael Garland said in a telephone interview today.

The wealthiest nation in Latin America is attracting $7 billion of renewable investments from Abengoa SA to SunEdison Inc. as the government seeks to reduce its dependence on fossil fuels to supply cheaper power to the mining industry, which provides a third of the world’s copper.


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The miners have started 2014 very well indeed on the back of rising gold prices, so the question is; is this the real deal or another head fake? Is the bottom really in? Could there be a final capitulation just ahead of us? Will the summer doldrums take the PMs lower?

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