Bulletin: Enel Chile S.A.'s Investment Plan Continues To Prioritize Carbon Reduction, While Maintaining Moderate Leverage

SAO PAULO (S&P Global Ratings) Dec. 1, 2020--S&P Global Ratings said today that Enel Chile S.A.'s (BBB+/Stable/--) recently unveiled 2021-2023 Strategic Plan continues to focus on the decarbonization of its fleet. The plan includes aggregate capital expenditures of $1.6 billion on renewables and the phaseout of coal generation. Over that period, Enel Chile intends to: Increase its installed capacity base in renewables by 2.4 gigawatts (GW) from an existing capacity of 4.7 GW; and Completely phase out coal capacity by May 2022. Enel Chile will invest additional $500 million in networks operations and $200 million in thermal generation. The plan is line with our expectations in terms of total amount, timing, and allocation of funds. We also believe that Enel

...SAO PAULO (S&P Global Ratings) Dec. 1, 2020--S&P Global Ratings said today that Enel Chile S.A.'s (###+/Stable/--) recently unveiled 2021-2023 Strategic Plan continues to focus on the decarbonization of its fleet. The plan includes aggregate capital expenditures of $1.6 billion on renewables and the phaseout of coal generation. Over that period, Enel Chile intends to: + Increase its installed capacity base in renewables by 2.4 gigawatts (GW) from an existing capacity of 4.7 GW; and + Completely phase out coal capacity by May 2022. Enel Chile will invest additional $500 million in networks operations and $200 million in thermal generation. The plan is line with our expectations in terms of total amount, timing, and allocation of funds. We also believe that Enel Chile will maintain a comfortable rating headroom, notably with adjusted debt to EBITDA decreasing to below 3x in 2021 and 2022, from 3.3x expected in 2020, which is consistent with the current rating....

Bulletin