Chile
Reduction of working hours: a global trend reaching Latin America
The reduction of working hours has been a key issue on the legislative agenda worldwide in recent years, and Latin America is no exception. While countries like Chile are already reducing the workweek from 45 to 40 hours and Colombia from 48 to 42, other jurisdictions like Mexico and Peru also have proposals on the table in this regard, but they have not yet been finalized.Chile: Approval of Significant Changes in Recognition and Compensation of Energy Storage Systems and Hybrid Plants
A methodology has been introduced to evaluate and recognize the power capacity of stand-alone energy storage systems, and the availability of data and studies has been improved to accurately identify peak hours that determine the calculation and subsequent payment of capacity, among other new features.Garrigues wins the award for best law firm in the Andes in banking law
Garrigues has been named Team of the Year for the Andean States in banking and finance law by the International Financial Law Review (IFLR), which each year selects the best deals carried out in Latin America. The editorial board of this prestigious publication focused on the cross-border component, innovation, and the valuation of the companies involved in each of the deals it analyzed.Newsletter on the energy market in Chile, Colombia and Peru - January 2024
We provide the main legal and market developments for the energy sector in Chile, Colombia and Peru. Dedicated Energy teams in these countries address topics of interest to sponsors, developers, financiers and other stakeholders in the sector, such as draft legislation, summaries of new regulations, relevant case law and market trends.Garrigues receives the award as the best law firm in Chile from ‘LatinFinance’
Garrigues was presented with the award by LatinFinance as the 'Law Firm of the Year in Chile' last night in New York. This recognition, one of the most prestigious in the Latin American legal field, takes into account key factors such as innovation and excellence demonstrated by the lawyers, as well as ESG impact and the success of the transactions advised.Chile issues new regulation for capacity payment to encourage investment in energy storage
The Ministry of Energy has submitted amendments to the current regulations on capacity payments to the Office of the General Comptroller, which include storage systems. This regulation was largely expected by the market, given the need of enabling investments in battery storage.NPLs in Spain, Portugal and Latin America: more selective deals and increasing activity in secondary markets and debt servicing industry
In the first three quarters of 2023, we saw investors adopting a more selective and specialized approach in their NPL investments, increasing their appetite for unlikely-to-pay (UTP) and reperforming loans (RPLs).Energy Market Newsletter for Chile and Peru – September 2023
We are pleased to showcase the main legal and market developments for the energy sector in Chile and Peru. Garrigues teams focused on Energy in Chile and Peru address topics of interest to sponsors, developers, financiers and other stakeholders in the sector, such as draft bills, summaries of new laws, relevant case law and trends in the project financing market.Chile: Publication of Law No. 21.592, which establishes a whistleblower protection statute
The law conceives access to protection as a right of any whistleblower who reports irregularities within organisations and guarantees their personal integrity and that of their property, as well as the preservation of their living and working conditions, which could be threatened as a result of their whistleblowing or their participation in the respective investigations.