Chile has pledged not to continue building coal-fired power plants unless they have carbon capture and storage technology, or the equivalent, according to dual statements from the energy ministry and electric power generators' association Asociación de Generadoras.

The association agreed not to start developing any new coal-fired power generation projects without the relevant carbon reduction technology, despite the fact that coal currently accounts for around 40% of the national energy matrix.

Specifically, the agreement was signed with members of the association including AES Gener, Colbún, Enel and Engie.

Additionally, the firms will form a working group within the framework of the country's 2050 energy policy, which sets a goal of 70% of national electricity generation from renewable sources by 2050.

"Thanks to significant reduction in costs and the massification of renewable generation technologies that have been incorporated into our [energy] matrix, the electricity generation industry sees an increasingly renewable future, where thermoelectric generation will no longer be the main source of energy and, together with hydroelectricity, other renewable technologies and storage, will complement variable solar photovoltaic and wind generation during the absence of sunlight or wind," read the statement.

The nine members of the association are AES Gener, Colbun, Enel, Engie, Pacific Hydro, Orazul, EDF, Cerro Dominador and Statkraft.

Source: BN Americas