Chile’s environmental approvals tumble in February

Environmental approvals in Chile fell sharply during February compared with January, as only 11 proposals involving investments of US$245mn received the green light.

In January, 29 projects entailing investments of US$1.62bn were passed.

Six of the projects approved last month are in the energy sector, the same number as in January, but the associated investments were down to US$179mn from the previous US$663mn, according to a monthly report from environmental evaluation agency SEA.

Approvals for mining initiatives remained flat at only two projects, while the investments involved were down slightly to US$5.75mn from US$6.80mn.

There were no project approvals for water, port or transport infrastructure during February.

Last month's approvals were only two fewer than in February 2023, but the associated investments in the second month of last year were significantly higher at US$1.01bn.

The biggest projects to obtain a positive environmental qualification resolution (RCA) last month were:

Tineo-Nueva Ancud transmission line (US$107mn)
De Prado olive oil plant regularization (US$50mn)
Alghero solar photovoltaic plant (US$33mn)

SUBMISSIONS

Some 38 projects worth US$4.32bn were submitted for evaluation during February, down from 53 submissions involving US$5.74bn the previous month due mainly to lower numbers of proposals in energy and mining. 

A total of 11 energy projects were presented for review last month, down from 21 in January, while the estimated investments declined to US$853mn from US$2.74bn.

Mining proposals increased from six in January to eight in February, but the investments plummeted to just US$146mn from US$2.05bn in the period.

Real estate submissions rose from seven to 10, while the associated investments were up to US$670mn in February from US$554mn in January.

There were no new project submissions in port, water, or transport infrastructure last month.

The “others” section, which groups projects such as datacenters and green hydrogen initiatives, saw five submissions last month, one fewer than in January. However, the estimated investments jumped to US2.5bn from US$221mn, the vast majority of which was for the Volta green hydrogen and ammonia project (US$2.5bn).

The biggest projects presented for environmental evaluation during February were:

Volta green hydrogen and ammonia project (US$2.5bn)
Casas Viejas solar photovoltaic park (US$116mn. Not accepted for review)
Tamarugal del Verano photovoltaic park (US$150mn)
Carolina Solar photovoltaic park (US$380mn)
Pascua Lama closing phase modification (US$136mn)
Alto Volcanes real estate project (US$400mn)