ENGIE ENERGIA CHILE S.A. Investor Presentation
9M 2021
Results & Guidance
Key messages
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Challenging 2021: extreme drought, record high fuel prices and high marginal costs
Despite improved 4Q ice-melt prospects and risk mitigation efforts (back-up supply PPAs, better plant performance, spot gas purchases), 2021 results will lag behind revised guidance
Advancing in of our transformation: 151MW Calama wind farm injecting to the grid (86 GWh); 114MWac Tamaya PV plant partially commissioned and injecting to the grid
0.5 GW renewables under construction w/scheduled COD in 2021/22 + 1.35 GW w/ scheduled COD in 2024-26
Making further progress in our transformation plan: Wind and solar projects under development; advancing in the coal-to-gas and coal-to-biomass transformation
Filing permit approval requests and securing land for future wind and solar PV projects
Robust and flexible capital structure
BBB+ rating confirmed by Fitch; liquidity strengthened by true sale of receivables; US$125 million IDB financing drawn; US$41.5 million dividend paid
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2021: Working on our reconversion
To become greener and reduce our supply cost
Reshaping our PPA portfolio with green corporate PPAs
- Contracted portfolio of more than 12TWh/y - 10-year average life
- Balanced regulated vs. unregulated portfolio
Phasing out coal generation
- 0.8 GW effective + committed coal plant closures by YE 2024
- 0.7 GW coal plant conversions by YE 2025
Accelerating our plans to add up to 2GW of renewables
- 0.7 GW renewables acquired or under construction
- More than 1.3 GW additional development portfolio
Managing risks during transition
- Signing Back-up PPAs with other generation companies
- Securing LNG supply
- Securing liquidity and financing sources
OUR PERFORMANCE
2019 | 2020 | LTM 09-21 | ||
TOTAL ENERGY SALES (TWh)
11.1211.41 11.69UNREGULATED PPAs (TWh)
6.246.466.60
REGULATED PPAs (TWh)
4.784.935.00
EBITDA (MUSD)
535 | 455 | 361 | ||
NET RECURRING INCOME (MUSD)
244 | 181 | 79 (*) | ||
- Financial expenses related to the sale of accounts receivable (US$49.6 million) are considered recurring for purposes of this presentation
Our transformation
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2 GW RENEWABLE PIPELINE, of which 0.7 GW UNDER WAY + 1.3 GW IN DIFFERENT STAGES OF DEVELOPMENT
LOS LOROS | MONTE REDONDO | CALAMA | TAMAYA | COYA | CAPRICORNIO | ADVANCED STAGE | |
46 MWac | 82 M W | 151M W | 114MWac | 180 MWac | 88 MWac | 560 M W | |
COD(*) | 2019 | 2020 | 2021 | 2022 | 2023-2024 |
ACQUISITIONS +FIRST 4 PROJECTS
2019 -2022: US$548 MILLION
UNDER DEVELOPMENT OR READY TO BUILD
U12 U13 | U14 U15 | CTM1 CTM2 |
disconnected | preparing disconnection | |
171M W | 268 M W | 334 M W |
2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
IMPAIRMENTS (AFTER-TAX EFFECT) 2018:US$53 MILLION | 2019: US$134 MILLION |
(*) COD= Commercial operation date
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Disclaimer
Engie Energía Chile SA published this content on 27 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 October 2021 12:47:11 UTC.
