Electric utility firm ENGIE has unveiled plans to end its coal-fired power generation activities in the next four years and build a 2GW renewables portfolio in Chile.
The group has confirmed its commitment to closing six units of 0.8GW of coal capacity and converting three units of 0.7GW total capacity to gas or biomass.
The €1.5 billion (£1.3bn) plan is forecast to enable the company to cut carbon dioxide emissions by 80% from its energy production operations in Chile by 2026.
The move is part of the group’s goal to achieve carbon-neutrality by 2050 at the latest.
Catherine MacGregor, ENGIE Chief Executive Officer, commented: “We are committed to taking action to accelerate the transition to carbon-neutrality. Our collaboration with the Chilean government puts us at the forefront of supporting the country’s decarbonisation.
“The total exit from coal and the promotion of renewable energies, including green hydrogen, demonstrate our commitment to contribute to Chile’s sustainable development.”