Chilean copper mine, Collahuasi, has entered into a long-term power purchasing agreement (PPA) with independent solar power producer Sonnedix for the delivery of 150 GWh/y. The PPA with Sonnedix constitutes about 12% of Collahuasi’s power requirements. The agreement, Sonnedix says, represents a further expansion of its presence in Chile, since it entered the electricity generating market in 2015.
Stem Inc. and Copec announced that their joint venture and strategic partnership will bring Stem’s technology to Chile and Colombia. The agreement follows the $30 million investment made in August 2019 in Stem by WIND Ventures, Copec’s corporate venture capital (CVC). Under this agreement, Copec will deploy Stem’s intelligent storage solutions as part of its development strategy, which aims to accelerate the energy transition focused on improving people’s quality of life, expanding Stem’s international presence into South America.
Sembcorp Industries has completed the divestment of its entire interests in its water business in Chile for CH$27.8 billion ($38.9 million) in cash. The water business was divested to Spanish construction and engineering service group Sacyr. The net asset value of the assets to be sold was previously reported to be $77.7 million. Hence, arising from the divestment, an impairment of $4.64 million was booked due to the difference between the sale value and the net asset value of the business. Following the divestment, Sembcorp has exited the Chilean market.
Enel Chile SA swung to a loss of CH$327.94 billion ($432.2 million) in attributable net profits for the first six months of 2020 compared to earning CH$49.05 billion ($64.7 million) in 2019, according to the latest financial report. Earnings before interest, taxes, depreciation and amortisation (EBITDA) dropped by 26.6% to CH$397.64 billion ($524.99 million). Total revenues arrived at CH$1.287 trillion ($1699.3 billion), down by 9.7% year-on-year, due to lower gas sales but also lower by comparison as a result of the extraordinary income booked in March 2019.
The Chilean salmon industry is more than half way toward reaching its goal of reducing the use of antibiotics in farming by 50%, although much hard work lies ahead if producers are going to achieve their target by the 2025 deadline. From the beginning of 2017 to the end of 2019, the Chilean salmon farmers cut their use of antibiotics by 28%.