Chile’s environmental approvals down in November

Twenty-three projects involving US$1.38bn were approved by Chile’s environmental evaluation service (SEA) during November, down from 32 and US$3.45bn the previous month, with the investment amount falling mainly due to the real estate sector.

The energy sector led last month’s approvals with 10 projects, five less than October, though planned investments increased from US$821mn to just over US$1bn, according to SEA’s monthly report.

Real estate approvals dropped from seven to just two while planned investments plummeted from US$2.2bn to US$39.5mn.

Two mining projects were approved last month compared to one in October. Proposed investments rose from US$25mn to US$37mn.

Transport infrastructure saw a single project approved involving US$39mn during November, compared to no projects the previous month.

One water infrastructure project was approved last month, the same as in October, but planned investments dropped from US$28mn to US$1.6mn.

There were no port infrastructure projects approved during November, just like October.

Approvals of projects classified as ‘others’, which include datacenters and initiatives related to green hydrogen, fell from two to one, while planned investments dropped from US$186mn to US$1.7mn.

The biggest projects to obtain the nod from the SEA last month were:

Halcón 2 transmission line and energy storage center (US$525mn)
Los Tambores cheese plant (US$141mn)
Solar Wing photovoltaic park (US$375mn)

Submissions

Forty projects were submitted for evaluation during November, up from 38 the previous month. Planned investments increased from US$2.52bn to US$3.75bn thanks to energy and water infrastructure, which offset declines in mining and real estate.

Energy topped the submissions list with 17 proposals last month, up from four in October. Planned investments rose from US$313mn to US$2.22bn.

Mining proposals fell from six to just two, and investments from US$350mn to US$49.5mn. 

Water infrastructure submissions increased from one in October to three last month, while planned investments grew from US$740,000 to US$651mn.

There was one transport infrastructure submission, the same as in October, and the amount was flat at US$447mn. That is because the project, a bypass around the city of Curicó (Maule region) was originally presented in October but later withdrawn by its proponent, concessionaire Autopistas del Maipo, which then resubmitted the same project the following month with the same investment amount. 

There were no submissions for port infrastructure during November, just like the previous month.

Real estate proposals dropped from 13 in October to nine last month, while proposed investments fell from US$508mn to US$361mn.

There were no submissions for projects classified as ‘others’ during November, compared to five proposals involving US$23.3mn the previous month.

The biggest projects to be submitted to the SEA during November were:

Quebrada Locayo wind farm (US$396mn)
La Isla battery energy storage system (US$300mn)
Modification to Parque Quilicura real estate project (US$100mn)
Curicó bypass (US$447mn)
Codelco Andina water impulsion system for industrial use (US$650mn)
Ramaditas photovoltaic park (US$550mn)
Loncualhue wind farm (US$340mn)

Year to date

The SEA approved 283 projects involving a planned US$17.3bn between January and November. The same period 2023 saw 224 approvals and a proposed US$12.1bn.

In terms of submissions, 448 proposals were presented in the first 11 months of 2024 compared with 523 in the same period last year, but planned investments rose to nearly US$51bn from US$37.2bn.

The senate is currently reviewing a bill to streamline the environmental review process following years of complaints that it drags on too long.