Major coal closures planned for Chile

AES signed an agreement with the Government of Chile, allowing for the closure of 1,097 MW of coal generation by 2025, subject to the requirements of the power grid. It includes roughly 20% of the country's installed coal capacity. This agreement complements AES' plan to invest $3 billion to build 2.3 GW of renewables and energy storage through 2024 in Chile and Colombia.

Globally, AES has announced the sale or retirement of almost 12 GW of coal capacity. Earlier this year, AES announced a target to reduce its generation from coal to below 10% on a pro-forma basis by year-end 2025 and set a new goal to reach net-zero emissions from electricity sales by 2040.