Regarding the diversification of Conelsur’s business, what are the objectives set in the medium and long term with this work?

Conelsur is the Peruvian subsidiary of Transelec, the main transmission company in Chile, and we are always looking closely at what Transelec does to bring the best practices and all the expertise and experience it has in its more than 30 years. Conelsur is very aware of a current process that Transelec is in, which is the diversification of the business, whether linked to the transmission business or adjacent businesses. For example, Transelec is currently executing a desalination plant project in conjunction with another company. One can say “it doesn’t have much to do with streaming,” but they are linear projects. Structurally it is building a pipeline across the desert.

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Where is this plant located?

It is in the north of Chile, in the Tocopilla part, and its purpose is to provide water to a mining company. As I said, we are always looking very closely and that is an invitation to look at the business outside the box as well. A couple of years ago, Transelec began to see how the competition was entering and that was an invitation to the company’s executives to diversify the business, to put their eggs in different baskets. That experience is what we want to bring at Conelsur.

I imagine they must have two teams within the organization.

Conelsur is still a small organization, we are going to celebrate seven years in the company, but we work closely with the Transelec teams. Therefore, the business, finance, and legal regulation teams maintain continuous work that allows us to bring Transelec’s best practices to the Peruvian market.

What is the project goal next year?

Since I assumed general management of the company in January of this year, we decided to set ourselves the goal of doubling the size of Conelsur within four years. This year was more about analyzing the market, looking at the different business alternatives, we have a pipeline of projects that is being evaluated to see where we are betting on our growth next year, both in public projects from Osinergmin and Proinversión, but also with a focus well marked for the development of private business. That is to say: build transmission solutions for mining clients or other industrial sectors, or also through the purchase of transmission assets that are already in operation. We offer with all the experience we have, we tell the mining or industrial client: “I buy your transmission asset, I manage it, operate and maintain it like an expert, and I also give you cash flow.”

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What pipeline projects are in Peru?

It is a pipeline under evaluation. We have around US$3 billion in projects mapped as a complete pipeline. Then the business and regulatory teams begin to look in detail to see next year which projects we will bet on.

In Peru, I sense, it must be the same analysis. How do you analyze the Peruvian market?

The Peruvian market is not very different from the Chilean market, the pains are very similar. For example, the delay in transmission planning by the authority, the difficulty in permits that affects the development of projects within the deadline, and we see an incident of opposition from communities that often without great justifications oppose projects with the sole purpose of obtaining greater economic returns. This is seen in Chile, Peru, I have spoken with market players in Colombia and Ecuador and the pains are exactly the same. That leads us to look in greater depth and detail at public sector projects.

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What precautions are you taking in the face of the El Niño Phenomenon?

We have advanced some projects destined for 2024 or 2025, we have advanced their execution to 2023 with the aim of protecting our facilities from the El Niño Phenomenon. So far we feel calm and confident that what we have planned will help us successfully overcome the climate challenge.

What projects did you advance?

We have a specific construction and reinforcement or barrier project that aims to protect high voltage towers. This is also an invitation to look at project execution differently.

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