The Ministry of Finance announces new capitalisation of BancoEstado for up to $1.5 billion

The Ministry of Finance announced that it will introduce a bill authorising a new capitalisation of Banco Estado of up to $1.5 billion, among other measures, to facilitate compliance with Basel III standards. In a statement, the portfolio said that the capital increase may be carried out until 31 December 2025 and will aim to allow BancoEstado to meet capital requirements in accordance with Basel III standards.

Bci issues $10 mn green bond in the capital market

With the aim of boosting the financing of green projects, Bci announced the issuance of a $10 million green bond for a term of 5 years. With this placement, Bci already has four green bonds for a total amount of $124 million, which have been used mainly to finance NCRE projects. This bond will be the first, from the bank, that seeks to finance and/or refinance other types of sustainable projects.

Enel Green Power installs the first full-scale wave energy converter in Chile

Enel Green Power Chile installed the PB3 PowerBuoy, the first full-scale wave energy converter off the coast of Las Cruces, in the Valparaíso Region. The marine energy generator installed by Enel Green Power is the first of its kind installed in Latin America and the fifth in the world. The system is able to convert wave energy into electrical energy that is stored in a 50 kWh battery system located inside the PB3 PowerBuoy, which feeds the different oceanographic sensors that monitor the marine environment.

AES Gener to develop 3 MW solar farm with Pucobre

AES Gener announced that it is developing a 3 MW photovoltaic (PV) project with Chilean copper mining company Pucobre. The solar plant will be located at the El Buitre tailing dam, in the commune of Tierra Amarilla. The PV park is part of the self-generation system of Pucobre's San Jose copper concentrator plant. According to the company, this is the first time in Chile that land with such characteristics will be transformed into a new asset for renewable energy generation.

AES Gener plans to invest $224 mn for the construction of 107.5 MW onshore wind farm in Chile

AES Gener has plans to build a 107.5 MW onshore wind farm in the Chilean region of Biobio. Paperwork for the environmental review shows that the company intends to invest $224 million to make the San Matias wind project a reality. AES Gener set a February 2022 date to begin construction. If all goes as planned, San Matias will be up and running in November 2023.