Chile's Colbún courting free clients

By
Thursday, November 9, 2017

Chilean power generator Colbún has signed medium term PPAs with free clients over recent months for more than 1.6TWh, including a 10-year deal with forestry and paper company CMPC for 630GWh/year.

So reads Colbún's third quarter earnings report which adds that negotiations are underway for new agreements.

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Physical energy sales to free clients in the first nine months and 3Q17 grew 5% and 6%, respectively, to 3,548GWh and 1,231GWh, while sales to regulated clients slid 2% and 3% to 4,813GWh and 1,580GWh, according to the document.

Colbún's spot market sales grew 14% this January-September to 1,048GWh compared with the year-ago period.

Read Chile's non-regulated market 'more attractive,' says AES Gener

Sales on Chile's central (SIC) and northern (SING) grids (SOURCE: Generadoras de Chile)

GROWTH PLAN

Colbún also updated its pipeline of projects in execution and development:

- Ovejería: 9MW solar PV plant for capital Santiago's metropolitan region. Construction is scheduled to begin at year-end with operations startup penciled in for 2Q18.

- San Pedro: 170MW hydro in the southern Ríos region (XIV). EIS will be refilled and action plan being developed to consult the project with municipalities, public services, regional authorities and indigenous communities.

- Guaiquivilo Melado: 316MW hydro in center-south Maule region (VII). EIS preparation and final engineering underway.

- Los Cuartos: 93MW hydro in southern Biobío region (VIII). Business evaluation underway in the lead up to basic engineering.

- El Médano: 6MW hydro in Maule region (VII). EIA submitted in July and basic engineering underway.

In September, Chile's ministries of energy and public lands awarded a lease to Colbún to develop the 607MW Horizonte wind farm.

HIDROAYSÉN

Regarding the embattled 2.75GW HidroAysén project, Colbún said it will propose its cancelation to HidroAysén S.A. and the dissolution of the latter.

In recent days, Chile's environmental tribunal rejected almost the entirety of arguments filed by HidroAysén S.A. against the ministerial cabinet, maintaining an unfavorable environmental qualification of the project.

Colbún's earnings report, which includes Peru, is available here