Exclusive insights: What the CEOs of the five leading energy companies discussed at FES Ch
November 27, 2025
The top executives of ENGIE, Enel, EDF, Acciona and Colbún warned at the Future Energy Summit that capital could shift toward markets such as Brazil, Uruguay or the United States, which offer greater stability, faster permitting and more predictable frameworks for renewable energy and energy-storage development.
The principal investors in the Southern Cone’s renewable-energy sector gathered at the Future Energy Summit (FES) Chile, where they delivered a clear message: the region is now competing openly for capital. As a result, only those countries able to provide reliable regulation and streamlined permitting will be positioned to maintain current levels of investment.
The first to raise this concern was Juan Villavicencio, CEO of ENGIE Chile, who highlighted that global financial resources are no longer guaranteed for any specific market. In his view, today’s challenge is not solely environmental or technological — it is fundamentally one of institutional competitiveness.
“Investments are global. If Chile does not provide the necessary conditions, that capital will move to countries such as Brazil or the United States,” he cautioned.
His assessment was echoed by Gianluca Palumbo, CEO of Enel Chile, who observed that the Southern Cone is entering a critical phase. Although the region benefits from undeniable natural advantages, other countries have already developed more stable and predictable regulatory environments.
“Some countries are more attractive simply because they provide consistent and foreseeable rules, enabling long-term investment planning,” he stated before an audience of more than 400 leaders from the renewable-energy and energy-storage sectors.
Another major issue highlighted by the executives was the delayed development of energy-storage systems, particularly battery energy storage systems (BESS). Despite their importance for integrating solar PV and wind power, these technologies still lack the incentives needed to drive large-scale deployment.
Joan Leal, CEO of EDF Power Solutions Chile, was especially clear: “If a regulatory framework for storage is not defined soon, projects will not progress because the value they provide to the grid is not recognised.”
Beyond predictability, the CEOs stressed that the current regulatory system is falling behind the demands of a rapidly evolving energy transition. Permitting obstacles and outdated frameworks for emerging technologies are creating friction that ultimately slows investment.
In this context, Jaime Toledo, CEO for South America at Acciona Energía, warned that the existing tariff model does not reflect the technological transformation of the electricity system, putting future renewable deployment at risk.
“We need new rules for how energy is priced; otherwise, the energy transition will begin to slow,” he stated.
Meanwhile, José Ignacio Escobar, CEO of Colbún, called for strengthening institutional coordination and consolidating a unified industry position in order to advance urgently needed structural reforms.
“We must align as an industry, speak with the authorities and Parliament, and define the urgent pathway we require,” he said, referring to the lack of cohesion among industry associations and the fragmented leadership that hampers the creation of a shared roadmap.
Beyond technical obstacles, all the executives pointed out that global financial conditions have become increasingly stringent. Higher interest rates and tighter banking requirements have considerably raised the threshold for project financing.
In this scenario, natural resource potential alone is no longer sufficient. Institutional trust, regulatory coherence and long-term clarity are now central for attracting capital.
Planning and shared vision: the role of the State
Towards the end of the panel, the CEOs underscored that cooperation between the public and private sectors will be crucial to meeting energy-transition objectives. They agreed that planning cannot rest exclusively with the State and called for formal mechanisms that enable industry participation.
Villavicencio advocated for creating institutional spaces for strategic dialogue, while Palumbo emphasised that consistent policy instruments must support long-term goals.
“Investment decisions are taken years in advance. We cannot operate with uncertainty about how the system will function by 2030,” the Enel executive stressed.
With a common perspective, the five CEOs made clear that advancing clean-energy development in the Southern Cone depends not only on natural resources or technological maturity, but on regulatory decisions that provide certainty, create appropriate incentives and reinforce public-private coordination.
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