Enel Chile S.A.

Increase its installed capacity base in renewables by 2.4 gigawatts (GW) from an existing capacity of 4.7 GW; and To completely phase out coal capacity by May 2022 by planning the date of disconnection of its two coal plants (Bocamina I and II), which together have an aggregate capacity of 478 megawatts (MW). In addition, in the same period, the company will invest additional $500 million in network operations and $200 million in thermal generation. We view Enel Chile's strategy as positive from a credit standpoint, because it will enhance the company's already leading competitive position in the Chilean market, which also considers its above-average profitability levels and its robust market share of 32% (in terms of energy sales) as

...Enel Chile S.A.'s 2021-2023 investment plan continues to prioritize carbon reduction. The plan includes aggregate capital expenditures (capex) of $1.6 billion in the renewable generation business, given that 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 + To completely phase out coal capacity by May 2022 by planning the date of disconnection of its two coal plants (Bocamina I and II), which together have an aggregate capacity of 478 megawatts (MW). In addition, in the same period, the company will invest additional $500 million in network operations and $200 million in thermal generation. We view Enel Chile's strategy as positive from a credit standpoint, because it will enhance the company's already leading competitive position in the Chilean market, which also considers its above-average profitability levels and its robust market share of 32% (in terms of energy sales) as of September...

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