AES Andes Authorized to Disconnect and Cease Operations at Ventanas Unit 1

July 25, 2022

Accelerating the execution of its Greentegra transformational strategy and reaffirming its commitment to the decarbonization of the country’s energy matrix, AES Andes will cease operations at — and definitively disconnect — Unit 1 of the Ventanas Plant from the National Electricity System, after obtaining the authorization from the National Energy Commission (CNE) to complete an early withdrawal.

Last June, AES Andes requested authorization to become exempted from the 24-month period to report the withdrawal and disconnection of the aforementioned unit, which has been in the Strategic Reserve Status ("ERE" in Spanish) since December 29, 2020.

In the resolution authorizing the withdrawal, the CNE justifies its authorization by stating, “According to the National Electricity Coordinator, the final withdrawal and removal of Unit 1 of the Ventanas Plant from the ERE does not jeopardize the security or compromise the supply of the National Electricity System.”

“This is a breakthrough in the coal retirement plan of our power matrix. As members of the government of President Gabriel Boric, we continue to work hard to bring forward the decarbonization goal to 2030,” said Minister of Energy Claudio Huepe.

The General Manager of AES Chile, Javier Dib, stated that the request for exemption from the deadline for the early withdrawal of Unit 1 follows the guidelines of the “Greentegra strategy of the Company intended to contribute to accelerate a safer and more sustainable energy future.”

“AES Chile and its parent company AES Andes have provided concrete evidence of their commitment to the decarbonization process that the country is currently implementing and to working to combat climate change. By 2025, the Company will have withdrawn from its portfolio or made available for withdrawal 72% of the coal-fired plants before starting to implement its Greentegra strategy in 2018,” said Dib. He added, “We continue to work with our employees, partners, customers and communities to accelerate the process, investing over $3 billion in our new renewable energy projects. ”

Unit 1 of the Ventanas Plant has an installed capacity of 114.2 MW and is connected to the National Electricity System in the Ventanas 220 kV substation.