Clean energy in Chile will increase by 27% this year

With so many renewable energy projects that are scheduled to begin operation this year, clean energy in Chile will increase by 27%. In total, the new projects that will start operating in the coming months will inject 6,988 MW into the national energy matrix. This is equivalent to the total solar and wind energy in force in the country so far, whose installed capacity amounts to 6,818 MW, with almost 99.6% connected to the Central Interconnected System, according to the National Energy Commission.

Chile’s Central Bank says risks to financial stability have declined

The Central Bank of Chile said that during the first half of the year, the risks to the country's financial stability have declined due to an improved external outlook, the progression of vaccination against COVID-19 and the adaptive capacity of various actors. The Financial Stability Report (IEF) states that unlike past crises in Chile, financing costs have remained low, debt has been contained and credit has continued to flow, although at a slower pace.

Sonnedix reaches COD on 6 MW of PV plants in Chile

Sonnedix Power Holdings said that two PV parks in Chile, with a combined capacity of 6 MW, have reached their commercial operation date (COD). The Malinke and Crucero ground-mounted plants, each of 3 MW and using bi-facial solar panels, are located in the Metropolitan Region and the O’Higgins Region. The two plants' output, estimated at about 12.8 GWh per year, is equivalent to the power demand of more than 6,000 Chilean homes. They are expected to avoid annual emissions of some 5,296 tonnes of carbon dioxide (CO2).

Third withdrawal: 4.3 million requests have been registered, first payments amount to $3,165 mn

The Superintendency of Pensions delivered a new balance on the third withdrawal of 10% of the pension funds. There were more than 4.3 million requests to access a new retirement savings pension. The first 1,534 payments were registered for a total of $3,165 million, which is equivalent to an average payment of $2,063,000 per person.

Chile postpones 2021 power auction due to COVID-19 lockdown

Chile’s National Energy Commission (CNE) has postponed the 2021 power auction due to the extended lockdown imposed across the Santiago Metropolitan Region to curb the COVID-19 pandemic. The CNE also postponed the submission date for offers to June 25, and rescheduled the remaining steps in the auction timetable. By stretching the submission period, the CNE wanted to ensure adequate participation in the bidding process while complying with health measures.

Concha y Toro’s revenue increased by 8.2% during first quarter of 2021

Viña Concha y Toro has revealed that markets including the UK, Chile and USA drove sales growth in the first quarter of this year. In the first quarter of 2021, revenue increased by 8.2% driven by an overall volume growth of 10.8% which was translated into higher average prices. Net profit for the company was up 87.3%. Concha y Toro revealed that the UK was one of its strongest performing export markets during 2020 with sales volume up 23%.

Chilean kiwi prices increased by 30%

According to Nicolas Damm of Rio Blanco, Chilean kiwis have not been affected by the rains that affected Chile's grape season. There is a higher demand for the kiwis from North America compared to last year. In the past, Chilean kiwis had been seen less favorably in terms of eating quality. Growers have worked hard to overcome that and are growing better fruit. As a result, Chilean kiwi prices are 30% higher.

Chile plans to close half of coal-fired plants by 2025

Chile plans to close half of its coal-fired power plants by 2025, 15 years ahead of a deadline to eliminate the fossil fuel from its power mix, Energy Minister Juan Carlo Jobet stated. Under an initial agreement signed by the government and power companies in June 2019, 8 plants with 1,000 MW of installed capacity were due to close by 2024. 6 were taken offline by the end of last year. Since then, AES Gener, Enel and Engie have all brought forward commitments to close plants by that date, lifting the installed capacity to close by 2025 to almost 2,900 MW.