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Within the framework of the decarbonisation of the parent company, in which the goal is to close the coal-fired plants before 2040, AES Gener, the company that has more of this type of technology, announced the advancement of its works of this type. And it is that, of the 5,229 MW of installed capacity that the generator has, 3,014 MW are coal-fired.
Given this, the generator informed through an Essential Fact that part of its thermoelectric plants will no longer be considered strategic assets of the company, since they will not be associated with the supply of supply contracts and will cease operation at the earlier date than sufficiency and safety. allow it.
To achieve this, on August 31, the agreement of its subsidiary Angamos with the mining companies Escondida and Spence (both BHP subsidiaries) was materialized, through which it accelerated the monetization of the future value of its contracts (PPAs) for an amount of U $ 720 million, completely decoupling Angamos PPAs from physical assets. Starting in 2022, the Angamos Plant (558 MW) will sell 100% of its energy to the spot market.
Likewise, under the terms provided in the Disconnection and Cessation of Operations Agreement signed in June 2019, AES Gener intends to anticipate the withdrawal of operation of Units 1 (114 MW) and 2 (208 MW) to the extent that the system allows it and the regulation has completed its administrative process.
As a consequence of the progress in the execution of the Greentegra strategy with which it seeks to decarbonize the portfolio, AES Gener will have an impact on its net income of US $ 560 million during this year, as a result of the deterioration of the property and plant and equipment assets whose income will come exclusively from its activity in the spot market.
Ricardo Falú, general manager of AES Gener, indicated that the decision is in line with the Greentegra strategy, and is one more example of the company’s leadership in Chile’s energy transition process. “We have deployed all our capabilities and we are moving forward with concrete actions to accelerate the decarbonization of Chile,” he said.
The executive added that they are currently building 719 MW renewable projects as part of their 2.3 GW growth plan that will be incorporated into the portfolio by 2024. “AES Gener will add 2,300 MW of wind, solar, hydroelectric and battery capacity to its portfolio by 2024. This transformation translates into very significant investments and the generation of thousands of jobs that will promote social and local development, essential for the sustainable reactivation of the country, ”said Falú.
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