CALAMA, Chile: Fifteen solar panel vehicles, some that look like small space ships, raced across Chile’s Atacama desert Friday as part of a contest to build low-cost environmentally-friendly cars.
Teams from countries like Argentina, Chile, India and Venezuela have crafted aerodynamic racers to speed across 1,300 kilometers (800 miles) of the world’s driest desert in the second edition of the Atacama Solar Challenge.
The race, which began Thursday and ends today, pits teams from universities that build their cars on a tight budget in the slog across northern Chile.
Some of the vehicles powered exclusively by the sun’s rays, while others are solar- and pedal-powered hybrids.
The solar-powered vehicles are mostly flat rectangular contraptions lined with solar panels to absorb solar energy, which is stored in batteries, and with a cubicle to house the driver. The hybrids look like neighborhood go-carts with solar panels glued on.
The race started Thursday at the Humberstone saltpeter, about 800 kilometers (500 miles) north of Chile’s capital, Santiago. The site, a UNESCO World Heritage Site, is a ghost town that has been abandoned since saltpeter mining was halted ended there in the mid 20th century.
This year, a team from oil-rich Venezuela made their debut in the competition that celebrates an alternative to fossil fuels.
“In a country with a mono-economy based on oil, with an infinite potential of hydraulic energy, and without an energy problem, it is a miracle to build a car like this,” said the Venezuelan team captain Carlos Mata.
“The import laws in Venezuela meant we could not get all the necessary materials, so we had to adapt what we had. It was a huge effort,” he explained.
But his team persisted, eager to participate in an event organizers say is aimed at encouraging research into alternative sources of energy.
The solar vehicles shared the same northern Chilean highway with trucks, busses and cars, but are a long way from replacing them, said Leonardo Saguas, captain of the Antakar team from Chile’s Universidad de La Serena.
Yet Saguas, whose team built last year’s winning car, said he can envision a day when Chile is mass producing solar cars.
“We have plenty of resources, we just need to develop them,” he said.
Gabriel Martinez, proud team captain from the University of Concepcion, spent a year perfecting his vehicle.
“It has 244 solar cells” which capture the sun’s energy and convert it to electricity stored in batteries, he bragged, adding that the vehicle “weighs 300 kilograms and its peak power is 950 watts.”
“This race is awesome. It applies all the engineering and technology we learn into a sport. I love it,” he gushed.
Luciano Chiang, professor at Chile’s Catholic University, supervises the Solar Mecatronica team, one of five competing from Chilean universities.
“The market for (solar) panels belongs 90 percent to China, which no one can compete with on price,” Chiang said.
“Yet Chile is the country with the most potential solar energy in the world,” he said. “It is the same paradox as with batteries. We buy them from China, but they are made of lithium that surely comes from Chile,” the world’s leading source of the mineral.
Solar vehicles in Chile race across world’s driest desert
Solar vehicles in Chile race across world’s driest desert
Fitch lifts Oman’s credit rating to BBB- amid stronger finances
JEDDAH: Fitch Ratings has upgraded Oman to investment-grade status, raising its long-term foreign-currency rating from BB+ to BBB-, citing the Sultanate’s stronger public finances, improved external position, and continued commitment to prudent fiscal management.
The agency noted that Oman has successfully strengthened fiscal discipline, reducing government debt significantly to around 36 percent of gross domestic product in 2025, down from about 68 percent in 2020, according to the Oman News Agency.
With the outlook remaining stable, Fitch expects the budget deficit to stay at a safe level of approximately 1 percent of GDP in 2026–2027, assuming an average Brent crude price of $63 per barrel, while the fiscal breakeven oil price is estimated at around $67 per barrel for the same period.
The upgrade reflects Oman’s sustained fiscal and external recovery since 2020, underpinned by sharp debt reduction, disciplined budgeting, and stronger external buffers.
Government debt has fallen to around 36 percent of GDP from nearly 68 percent five years ago, while the sultanate has turned into a net external creditor for the first time in years, according to Fitch’s report.
The agency added that the rating also factors in steady non-oil growth, rising foreign investment, and reforms aimed at widening the tax base, even as it cautioned that Oman’s heavy reliance on hydrocarbons and state-owned enterprise leverage remain key structural risks.
“Domestic consumption, robust foreign investment and tourism will maintain non-oil growth above 3.5 percent in 2026 and 2027,” the rating agency’s release stated.
On the economic front, Fitch expects Oman’s GDP to grow by around 4 percent in 2025, up from a 1.6 percent expansion in 2024, supported by strong non-oil sector growth of 3.8 percent.
“Domestic spending, continued foreign direct investment inflows, and expanding tourism are likely to sustain non-oil growth above 3.5 percent over 2026–2027,” ONA reported.
The report also underscored a major turnaround in Oman’s external finances, with the country becoming a net external creditor in 2024, equivalent to 2 percent of GDP, compared with its net debtor position in 2021.
This improvement, ONA said, was driven by government debt repayments, reduced liabilities at state-owned firms, stronger foreign assets, and higher reserves.
Fitch emphasized that Oman’s rating could be upgraded further if the government strengthens its resilience to oil price volatility by broadening non-oil revenues, sustaining fiscal gains through continued debt reduction, and bolstering external reserves and sovereign wealth fund assets, as per ONA.









