Engie Energia Chile S. A.

To follow market trends and to remain competitive, Engie launched a strategy to replace thermal sources with new renewable capacity of up to 1 gigawatt (GW) in renewable sources in the next four years. The company started to decommission 171 MW of coal-based capacity in June 2019 and announced its intention to retire additional 268 MW by the end of 2021 and 334 MW by the end of 2024, demonstrating its adherence with the government's clean power goals. Simultaneously, it acquired various non-conventional renewable assets totaling 137 MW of install capacity. In addition, Engie is constructing three greenfield projects: the Tamaya (114 MW) and Capricorn (97 MW) solar parks, and the 151 MW wind farm, Calama, with commercial operations date

...Operating performance for the first half of 2020 in line with expectations. For the 12 months ended June 30, 2020, and despite COVID-19, Engie Energia Chile S. A. (Engie) generated EBITDA of $202 million, slightly below expectations, with an EBITDA margin of 30% and debt to EBITDA of 1.8x. As Chile's economy recovers in the following months, we expect Engie's EBITDA to increase to $400 million - $450 million and EBITDA margin of 30% for 2020. We will continue to monitor the company's cash flows and payment collections to detect any impact from the pandemic. So far, delays in payments were isolated and moderate....

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