In the first quarter 101 renewable projects were entered into the Environmental Assessment Service (SEA), which totaled US $17,649 million. Meanwhile, 23 mining projects and 30 real estate initiatives were entered, totalling an investment of about US $3.5 billion. These 101 projects will generate 17,013 jobs in their construction phase, surpassing mining and real estate which will generate 1,590 and 2,091 jobs respectively.
.The dollar closed with a further fall, in the face of a strong bullish streak that has scored copper in the international market. The US currency ended the session today with the dollar at CH$817.60.
Pre-COVID-19, the renewables sector was estimated to witness an annual installed capacity of 1.1GW of renewables, but post-COVID-19, the annual installed capacity is likely to decline to 0.97GW in 2020. The pandemic is bringing about drastic changes within the power sector with short term implications likely to disrupt sector trends until next year. Since March 19, many producers have scaled back operations or halted production.
This season traders in China struggled with weak prices. A contributing factor to this was that while Chile’s overall table grape output and exports dropped, exports to China rose by 2.9%. There was also a readjustment in the volumes of products being sent to China. Exports of Red Globe grapes from Chile to China for the 2019/20 season fell to 61,650 tons, 13.4% less than the previous season. In contrast, exports of Crimson Seedless from Chile to China rose this season by 69.8% to 22,465 tons.
Empresas Copec reported a sharp drop during its first quarter. According to the company's financial statements, profits in the first tranche went from US $221 million in 2019 to US $6 million, representing a decrease of 97.1%. The company explained that a decrease in profits is mainly due to a drop in the operating result of approximately US $134 million, which went from US $309 million in the first quarter of 2019 to US $175 million in 2020.