Independent power producer Sonnedix Power Holdings Ltd has obtained an environmental permit for the 150-MWp Sonnedix Tres Cruces solar project in the Atacama region in Chile. The $140 million Sonnedix Tres Cruces will be realised within the communes of Diego de Almagro and Chanaral. Construction work is seen to start by 2023 and be completed in 2024. During the process, the company will support 295 new jobs.
Foreign direct investment in the first half of 2021 grew by 28%. According to InvestChile, its project portfolio registered a 28% increase in the amount of foreign initiatives in the country, after reaching a total of $23.976 billion, versus $18.764 billion in the same period of 2020. China was the main investor in that period, as it raised by 26% the amount of initiatives and by 11% the number, totalling 30 projects valued at $5.646 billion.
Chile recorded a trade surplus of $604 million in July, Chile's Central Bank reported. The country exported a total of $7.943 billion, an increase of 27.3% over shipments in the same month last year. Imports reached $7.339 billion, a year-on-year increase of 55.3%, its highest on record.
Chilean electric utility Enel Generacion Chile SA (FRA:EPN) announced this week it has secured a contract with a corporate client to supply 100% renewable energy in Chile over four years. Under the terms of the contract, which is effective as of May 2021, the Chilean subsidiary of Enel will supply energy generated from wind, solar, geothermal and hydropower sources to the client's facilities in central Chile and the Maule region in particular.
South American power company AES Andes SA reported a $266.3 million loss of attributable earnings for the first-half of 2021, after having to recognise significant impairment of assets for committing to close thermoelectric power plants in Chile. In the same period a year ago, the company posted a $137.7million attributable profit.
Chilean cement consumption advanced 66.7% YoY in June 2021 to 355,851t when compared with the 233,186t reported in June 2020 and by 21.9% when compared with June 2019, according to the Chilean Construction Chamber, CChC. In the January-June 2021 period, dispatches were up 20.5% YoY to 2,145,846t from 1,781,388t in the first half of 2020.
A joint venture controlled by Australian firm Lithium Power International (LPI) has entered into an initial agreement with Japanese trading house Mitsui to develop the Maricunga lithium project in Chile. Mitsui and Minera Salar Blanco, which is 51pc owned by LPI, are working towards an alliance that includes offtake and funding rights for the first stage of the 15,000 t/yr Maricunga lithium project with an expected mine life of 20 years, LPI said.
LATAM Airlines Group has entered into an agreement with Boeing to cancel outstanding orders for four B787-9s and one B777-200F, subject to the approval of the US Bankruptcy Court. As a result of the amendments, LATAM will maintain its purchase orders in respect of two B787-9 aircraft, with proposed delivery dates in December 2021, the Latin American group said in its quarterly financial report.
Engie Energia Chile SA has signed a power purchase agreement (PPA) to supply 100% renewable electricity to Chilean bakery chain Ideal SA. The Chilean subsidiary of France’s Engie SA will supply wind and solar power to meet all of the buyer's current and future demand. Through this PPA, which became effective last month, Engie Chile will help Ideal's branches to avoid the annual emission of approximately 9,000 tonnes of carbon dioxide (CO2), equivalent to planting more than 500,000 trees.
Nokia has been chosen by Movistar Chile to provide equipment from its AirScale portfolio to launch the operator’s 5G network in the country. In addition, Nokia will upgrade Movistar’s 4G and 4G+ networks to strengthen the critical network backbone across Chile’s key markets.