The AES Corporation has signed an agreement with the Chilean government to shut down 1,097 MW of coal generation by 2025, subject to the requirements of the power grid. AES currently operates 8 coal-fired power plants in Chile: Angamos (502 MW), Campiche (249 MW), Cochrane (490 MW), Guacolda (751 MW), Laguna Verde (45 MW), Norgener (262 MW), Nueva Ventanas (249 MW) and Ventanas (193 MW). AES pledged to close 4 units by 2025: Angamos-1, Angamos-2, Campiche and Nuevos Ventanas. These units entered commercial operations between 2009 and 2013.
In June 2021, the Chamber of Deputies of Chile has approved a bill that prohibits the installation and operation of coal-fired power plants. The measure, which is yet to be voted by the Senate, will take effect from 31 December 2025 for plants that are less than 30 years. Coal accounts for 15% of Chile’s installed capacity, with 4.5 GW (2020). Fourteen coal-fired units totaling 3.3 GW will be less than 30 years as of 2025.
AES plans to invest US$3bn to build 2.3 GW of renewables and energy storage through 2024 in Chile and Colombia. At the global level, AES has committed to sell or retire almost 12 GW of coal capacity.
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