AES Gener exiting coal-fired plant in Chile

Wind park. Author: Santi VillamarĂ­n. License: Creative Commons, Attribution-NoDerivs 2.0 Generic.

February 24 (Renewables Now) - Latin American power utility AES Gener SA has reached a deal that will see the company part with its stake in s 764-MW coal-fired plant in Chile as it looks to reduce the carbon intensity of its portfolio.

AES Gener announced on Tuesday it has agreed to sell its interest of 50% plus one share in Guacolda Energia SpA to industrial electrical technologies provider WEG Group, the current co-owner of Guacolda. The plant accounted for 26% of the seller's coal-fired capacity.

The company plans to reinvest the funds raised through this deal in its renewable growth plans.

Exiting the coal plant is in line with AES Gener's green energy strategy, Greentegra. The company plans to build 2.3 GW of wind, solar, hydropower and battery capacity in Chile and Colombia between 2019 and 2023. Currently, 1.36 GW are in operation or under construction.

Completion of this transaction is pending regulatory clearance by Chile’s antitrust authority (FNE).

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