ENGIE Announces Development Of A 2 GW Renewable Energy Portfolio And Total Exit From Coal By 2025 In Chile

• Development of a 2 GW renewable energy portfolio including 1 GW newly announced in addition to 1 GW committed at the end of 2019.
• Commitment to close 0.8 GW of old coal units reaffirmed, conversion to gas or biomass of 0.7 GW – corresponding to the newest units – by 2025 announced.
• Commitment to the production of green hydrogen in Chili, with 3 ongoing pilot projects.

ENGIE presented this morning at the Presidential Palace of Chile the comprehensive transformation plan for its operations in the country, which includes the development of 2 GW of renewable energy capacity and the end of its coal-fired power generation activities by 2025 (nearly 1.5 GW). This initiative is part of the Group's ambition to achieve carbon neutrality by 2050 at the latest.

After a virtual meeting between Sebastian Piñera, President of Chile, and Catherine MacGregor, ENGIE CEO, the Group reaffirmed its commitment of closing six units (0.8 GW) of coal capacity, including two facilities already closed in 2019, and the conversion of the three newest units (0.7 GW) to gas or biomass by 2025.

ENGIE also announced the development of a 2 GW renewable energy portfolio in Chile, representing an additional 1 GW since the last announcement in 2019. To date 0.6 GW is already under construction.

The entire plan involves an investment of EUR 1.5 billion by 2025. It will enable ENGIE to reduce CO2 emissions by 80% from its energy production activities in Chile by 2026.

In line with the country's decarbonization strategy, ENGIE has also reaffirmed its commitment to developing green hydrogen production. The Group in Chile, a pioneer in hydrogen development, is the only company to have developed three pilot projects in the country: HyEx, in collaboration with Enaex to develop green ammonia; Hydra, to promote truck mobility in the mining sector; and an initiative with Walmart that will involve the use of 149 cranes powered by green hydrogen.