AES announces acceleration of future payments of $720mm from 2 long-term contracts

The AES Corporation announced that its subsidiary, AES Gener, reached an agreement for the early termination of two tolling agreements (PPAs) with the 558 MW Angamos coal-fired plant in Chile. Per this agreement, the PPAs will cease in August 2021. "As a result of this agreement, AES Gener is accelerating all future payments from two of its long-term coal generation contracts for a total of $720 million," said Andrés Gluski, AES President & Chief Executive Officer. "This transaction also expedites the timeline of AES Gener's decarbonization program, while providing additional funding for AES Gener's current backlog of 2 GW of renewable projects."

Almar to provide water treatment services to Mantos Copper in northern Chile

Almar Water Solutions has been awarded a new operation and maintenance contract from Mantos Copper and its Mantos Blancos copper operation in northern Chile. As part of the agreement, Almar Water Solutions, part of Abdul Latif Jameel Energy, through Osmoflo SpA, will operate the water treatment plant for Mantos Blancos. This new 3-year contract will include 24/7 service provided by experienced professionals who will transfer to the client’s facilities in the Antofagasta region thus creating local jobs, according to the company.

Teck to resume operation at Quebrada Blanca 2 copper project in Chile

Canada's Teck announced it would reinitiate work on its Quebrada Blanca phase 2 copper project in Chile after shutting it down previously in March, due to the coronavirus outbreak. Teck vice president, Amparo Cornejo, said that the company was working closely with local authorities and hoped to reach full staffing levels at the project within three months. "Obviously we will do this only if the health conditions in the country permit it," Cornejo said.

Government launches pilot plan to progressively resume construction work

At a worksite in the Lo Barnechea district, various government authorities launched a pilot plan for the progressive resumption of construction work in the districts of Lo Barnechea, Ñuñoa and Colina. During the meeting, the President of the Chilean Chamber of Construction, Patricio Donoso, explained that the plan contemplates the opening of three smaller worksites located in the area, which are in the transition stage of the Step-by-Step Plan promoted by the government.

Chilean imports fall by 12.5%

Since COVID-19 affected China (Chile's main trading partner) at the end of 2019, the effects began to hit national foreign trade, generating a slowdown in the logistics chain on a global scale. While Chilean exports have been recovering, imports continue to add red numbers which has resulted in a 12.5% drop in Chilean commercial exchange during the first seven months of 2020, totalling $71,829 million, according to the latest figures released by the Undersecretary of International Economic Relations (Subrei).