Arauco Sells Chilean Timberland to Investor Group led by BTG Pactual

Celulosa Arauco y Constitución (Arauco) sold approximately 80,500 hectares of timberlands in the central and southern regions of Chile for $385.5 million from an investor group. The investor group is led by BTG Pactual’s Timberland Investment Group (TIG). Other investors in the consortium include British Columbia Investment Management Corporation (BCI) and APG Asset Management. The transaction is subject to customary closing conditions, including antitrust approvals, and is expected to close in the third quarter of 2021.

Aker Horizons completes transaction to acquire Mainstream Renewable Power

Aker Horizons has completed a transaction (valuing Mainstream's current equity at €900 million) to acquire a portfolio of solar and wind projects in operation and under construction of around 1.4 GW and a pipeline of projects under development of around 12.5 GW. This portfolio has increased by more than 1 GW since the acquisition was announced on 19 January 2021.

Japan’s Mitsui weighs up Chile’s Maricunga Li project

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 cancels orders for four B787-9s, one B777-200F

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 to supply renewable power to Chilean bakery Ideal

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.

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).

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%.

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.