In a “stress” scenario, with a dollar close to CL$830, private sector external debt, which was 58.3% of GDP as of November, could reach a record 68.3% this year, Oxford Economics warned. Considering government's external debt (19.1% of GDP), Chile's total external debt totaled 77.4% of GDP at that date, the British firm said. Chilean companies most exposed to Chilean peso devaluation are Concha y Toro, Agrosuper and Enjoy, according to Humphreys risk rating agency.
Despite the slowdown in e-commerce in Q4 of 2019, which increased 16% after having grown 29.8% in Q3, the Chilean Chamber of Commerce, Services and Tourism (CNC) estimates that the level of growth will return to the levels achieved before October. The very same situation of social conflict has caused many companies to "hurry up their strategy to enter the online world, because it facilitates purchases when physical commerce is impeded," said CNC studies manager Bernardita Silva.
Authorities of the Chilean region of Coquimbo approved the environmental impact statement of the 10.6-MW Ovalle Norte solar photovoltaic (PV) park. With an investment of $10.6 million, the PV project managed by Czech solar developer Solek Group will involve the installation of 28,800 solar panels in the province of Limari. Ovalle Norte is expected to generate enough power to meet the annual consumption of 10,000 local homes.
Chilean power provider Colbún has applied for environmental approval to build the 788 MW Planta Fotovoltaica Inti Pacha project in in the municipality of María Elena, Tocopilla province, in the northern region of Antofagasta. The power plant would be built in three different units – Inti Pacha 1 (IP1), Inti Pacha 2 (IP2) and Inti Pacha 3 (IP3). The planned investment for the project has been estimated at $788 million.
Italian renewable energy sector player Enertronica SpA (BIT:ENT) has signed two manufacturing and supply contracts for 360 MW of photovoltaic (PV) inverters in Chile. The order, worth about $20 million has been awarded to the company and its subsidiary Enertronica Santerno Inc by an unnamed buyer, only classified as "the world's leading operator in the sector." Under the deal, the Italian company will equip two Chilean projects and increase the firm's total installed capacity in Latin America to 1.2 GW by end-2020.