Santiago-based power company AES Gener SA said it will invest $1.8 billion to add around 1.6 GW of new wind and solar capacity to portfolios in Chile and Colombia. The projects will in part be financed through a capital increase of USD 500 million, the company said in its earnings report.
The presidents of Colombia, Iván Duque, and Chile, Sebastián Piñera, agreed to give new impetus to the Pacific Alliance and the Forum for the Progress of South America (Prosur), while ratifying the purpose of working together to strengthen trade, investment, institutional relations and environmental protection, among others.
Chile’s economy expanded 1.5% in January on steady growth in mining in the world’s top copper producer, the central bank said on Monday, once again proving more resilient than expected following months of protests in late 2019. The bank’s IMACEC economic activity index encompasses about 90% of the economy tallied in gross domestic product figures.
Chile has announced that it will decarbonise its electric sector and implement 100% electric public transport by 2040. In addition, Chile also aims to achieve carbon neutrality by 2050, supported by the country’s lithium reserves, which are extensively used in batteries for electric cars and buses.
According to a survey from Ipsos, 51% of those surveyed said that the future increase of 6% in contributions should go entirely to individual worker savings, with 24% supporting the mixed formula - three points for this fund and three points for a collective solidarity fund.
The Economic Expectations Survey prepared by the Central Bank showed that a growth of 1.2% is projected for 2020. However, recent developments with the coronavirus have raised the possibility that the projections will be affected, as the rapid spread of the virus globally has led to greater concern about the impact on global economies.