01
Transelec
Transelec is the leading provider of high voltage systems in Chile, with nearly 10.049 kilometers of 500 kV and 220 kV transmission lines and 82 substations between the Arica and Parinacota Region and the Los Lagos Region.
We are the leading power transmission company in Chile. We transmit the power that lights the homes of 98% of Chile’s population between Arica and Chiloé.
100% of property belongs to four shareholders: Canadian Pension Plan Investment Board, British Columbia Investment Management Corporation, Public Sector Pension Investment Board and China Southern Power Grid International.
02
Our People
Transelec is a specialised firm. Nearly 96% of our more than 500 employees have professional or technical skills; our employees are essential to achieve the industry’s high quality standards and to face its increasing and diverse challenges.
We promote a high-performance culture and a good working environment. For the fifth year in a row, we were assessed by the OHI (Organization Health Index) and scored 80 points, placing us in the upper decile for this evaluation at a global level for the second year in a row.
In addition to our own collaborators, we provide employment for over 3,000 contracting company workers, who are included in our safety and training programs featuring a preventive focus.
Employment Indicators
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587
NUMBER OF COLLABORATORS
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73%
PERCENTAGE OF UNIONIZATION
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24%
PERCENTAGE OF WOMEN
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592
NUMBER OF COLLABORATORS
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72,8%
PERCENTAGE OF UNIONIZATION
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22,9%
PERCENTAGE OF WOMEN
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567
NUMBER OF COLLABORATORS
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75%
PERCENTAGE OF UNIONIZATION
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21%
PERCENTAGE OF WOMEN
With a track record spanning over 80 years in the industry, Transelec makes all of its know-how and experience in design, construction, operation and maintenance of power transmission facilities available for the country’s development.
Go from left to right to view each milestone by year.
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The company was founded in 1943, when CORFO created the National Electricity Company (ENDESA).
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50 years later, in 1993, the company's Power Transmission Division became the subsidiary Compañía Nacional de Transmisión Eléctrica S.A., which subsequently became Transelec S.A.
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All Transelec shares were purchased by the Canadian company Hydro-Québec in 2000, making the SIC power grid fully independent.
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In 2003, Transelec was incorporated into the Far North Interconnected System, SING, with the purchase of 924 kilometers of 220 kV transmission lines.
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The entire company was purchased by a consortium comprised of Canadian investment and pension funds.
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In 2009 Transelec implemented better technology, such as the Statcom system that increases maximum transmission capacity, and pioneered the contribution of power from a non-conventional renewable energy (NCRE) source into the SIC power grid.
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Transelec finished construction of the Caserones power transmission system for Minera Lumina Copper Chile in 2012, a highly complex mining project located at over 4,000 meters above sea level.
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In October 2014 Transelec opened its National Transmission Operation Center (CNOT) in Cerro Navia, which connected control centers and enabled a single, direct relationship with the CDECs.
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Transelec incorporated the company Conselsur in Peru by purchasing power transmission assets owned by Edegel and Chinango.
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Interconnection of the National Electricity System (SEN) was completed. Two transmission lines built by Transelec played an essential role in making system connection feasible for 2x550kV Los Changos – Kimal and 2x220kV Los Changos – Kapatur transmission lines.
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China Southern Power Grid International finalized the purchase of a 27.79% stake in Transelec in March 2018. Ever since, the company’s ownership has been shared by the aforementioned Chinese company and the Canadian funds Canadian Pension Plan Investment Board (CPP), British Columbia Investment Management Corp. (bcIMC) and Public Sector Pension Investment Board (PSP).
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The 2x220 kV Lo Aguirre – Cerro Navia transmission line was commissioned, the first linein the National Power Grid to have an underground section.
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The 2x500 kV Pichirropulli – Tineo transmission line connecting the Los Ríos and Los Lagos regions was commissioned, reinforcing power supply in Chile’s southern regions and upgrading transmission capacity. This line spans west of Highway 5 South and 60% of its route runs alongside a previously existing Transelec transmission line.
04
The System
Chile has a National Power Grid that connects the country between Arica and Chiloé, as well as the Aysén and Magallanes power grids. Transelec has an 89,6% stake in the National Power Grid.
Power is transported using high voltage transmission lines, which connect power generation sources to cities and industrial and mining users. Power is received by substations there and then converted to low voltage for distribution to end users.
Transelec is responsible for providing an uninterrupted power supply to the people of Chile and thus contributes to improving their quality of life and the country’s development.
05
Business Model
National System
Highly efficient interconnected transmission lines and substations between Arica and Chiloé needed to enable power supply to meet demand in different power generation scenarios.
Zone Systems
Facilities interconnected to the power grid arranged in such a way to ensure exclusive power supply for groups of free or regulated end consumers, which are generally located in and around cities where power distribution companies operate.
Exclusive Systems
Transmission lines and equipment mainly used to supply electrical energy to non- regulated customers or to evacuate production from a power plant or limited group of power plants. Power transmission using these systems is regulated by private contracts between the parties.
Development Pole Systems
Power transmission lines and substations designed to transmit power generated into the power transmission system using a single development pole, making efficient use of national territory.
06
Corporate Government
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1. Blas Tomic Errázuriz
Director
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2. Tao He
Director
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3. Ximena Clark Núñez
Director
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4. Andrea Butelmann Peisajoff
Director
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5. Alfredo Ergas Segal
President
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6. Richard Cacchione
Director
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7. Juan Benabarre Benaiges
Director
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8. Mario Valcarce Durán
Director
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9. Jordan Anderson
Director
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Board of Directors as of
July, 2024
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1. Eduardo Tagle Gana
VICE PRESIDENT FOR LEGAL AND TERRITORIAL AFFAIRS
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2. Francisco Castro Crichton
Chief Financial Officer
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3. Paola Basaure Barros
CORPORATE AFFAIRS & SUSTAINABILITY VICE-PRESIDENT
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4. Alejandro Rehbein Oroz
VICE PRESIDENT OF INNOVATION AND TECHNOLOGY
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5. Arturo Le Blanc Cerda
Chief Executive Officer
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6. Claudio Aravena Vallejo
People & Organization vice-president
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7. Olivia Heuts Goen
Business Development Vice-President
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8. Bernardo Canales Fuenzalida
Engineering & Project Development Vice-President
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9. Claudia Carrasco Arancibia
VICE PRESIDENT OF REGULATION AND REVENUE
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10. Jorge Vargas Romero
Chief Operating Officer
In March 2018, Brookfield Asset Management (BAM) sells its stake in Transelec to the chinese company Southern Power Grid International (CSG). The Transelec property is now composed of Canadian Pension Plan Investment Board (CPP), British Columbia Investment Management Corp. (bcIMC), Public Sector Pension Investment Board (PSP) and China Southern Power Grid International (CSG), who place their great financial strength and operational experience at the service of the country’s growth needs.
The profit sharing policy states that during a specific fiscal year, the Board of Directors aims to distribute 100% of the net profits reported as dividends, considering the company’s financial situation, commitments made by Transelec when the company issued bonds on the national and international markets, and considering the impacts of implementing IFRS.
No dividend may be declared if it would prevent the company from meeting its financial commitments.
With respect to a specific fiscal year, the Board of Directors may consider it appropriate to declare temporary dividends that could be distributed depending on conditions at the time. Overall temporary dividends shall not exceed 75% of the company’s profit that can be distributed for the current fiscal year according to the latest forecast available.
Our shareholders have created several committees in order to be kept informed regarding important issues and thus support the company at all levels.
Audit Committee
Creation of an Audit Committee was approved in April 2007. This committee is different from the committee indicated in the Corporations Law, whose duties include, among others, reviewing the company’s audit reports, balance sheets and other financial statements, and internal systems. The Transelec Audit Committee is comprised of four directors, who are appointed by the Board of Directors and serve for a terms two years, after which they may be re-elected. The Committee will elect a chairman from among its members and a secretary, who may be one of its members or the secretary of the Board of Directors.
Investor Advisory Committee
The Investor Advisory Committee is comprised of directors and senior executives. Its mission is to improve information submitted to the Board of Directors regarding the company’s different projects oportunities and thus facilitate decision making by the Board of Directors.
Corporate Reputation and Regulatory Committee
The Corporate Reputation and Regulatory Committee is comprised of company directors and executives. It meets twice per semester to review the Corporate Reputation and Regulatory Strategy, which will be executed in keeping with the main legal and regulatory amendments made in the power and environmental sectors, and to lead tariff setting processes for the national and zone power transmission systems.
Finance Commitee
The Finance Committee is made up of company directors and executives. It meets periodically to review the company’s financial strategy and to provide consultancy and approve different proposals that are important for the financial activities being executed by Transelec.
Human Resources Committee
The Human Resources Committee is comprised of company directors and executives. It meets at least once per year to review issues related to the people who make up the Transelec team. The issues reviewed include the revision of financial KPIs, which are the basis of the current variable bonus pyramidal structure at the company, as well as other issues related to the development of people, training, etc.
Operations Committee
The purpose of this Committee is to offer the Transelec Administration the opportunity to discuss issues of operations in detail with members of the Board. It is responsible for the supervision of health and safety programs stablished from Transelec’s recommendations on KPIs for health, safety and operation.
Corporate Governance Committee
The Corporate Governance Committee is comprised of Company directors and executives who meet twice per year to propose and nominate members of the Board of Directors and to evaluate their management. In addition, their mandate includes examination and evaluation of Transelec corporate governance guidelines and making recommendations regarding these to the Board of Directors.
Other Committees
Coordination Committees: these involve the different Transelec vice-presidencies and are held regularly in order to coordinate the most important issues for the company:
- Executive Committee
- Business Committee
- Projects Committee
- Operational Excellence and Results Committee
- Regulatory Agenda
- Innovation Committee
Integral management system committee: This committee has as it mission discuss about safety and ocupational security, envirinmental matters, and quality issues.
-
1. Blas Tomic Errázuriz
Director
-
2. Tao He
Director
-
3. Ximena Clark Núñez
Director
-
4. Andrea Butelmann Peisajoff
Director
-
5. Alfredo Ergas Segal
President
-
6. Richard Cacchione
Director
-
7. Juan Benabarre Benaiges
Director
-
8. Mario Valcarce Durán
Director
-
9. Jordan Anderson
Director
-
Board of Directors as of
July, 2024
-
1. Eduardo Tagle Gana
VICE PRESIDENT FOR LEGAL AND TERRITORIAL AFFAIRS
-
2. Francisco Castro Crichton
Chief Financial Officer
-
3. Paola Basaure Barros
CORPORATE AFFAIRS & SUSTAINABILITY VICE-PRESIDENT
-
4. Alejandro Rehbein Oroz
VICE PRESIDENT OF INNOVATION AND TECHNOLOGY
-
5. Arturo Le Blanc Cerda
Chief Executive Officer
-
6. Claudio Aravena Vallejo
People & Organization vice-president
-
7. Olivia Heuts Goen
Business Development Vice-President
-
8. Bernardo Canales Fuenzalida
Engineering & Project Development Vice-President
-
9. Claudia Carrasco Arancibia
VICE PRESIDENT OF REGULATION AND REVENUE
-
10. Jorge Vargas Romero
Chief Operating Officer
In March 2018, Brookfield Asset Management (BAM) sells its stake in Transelec to the chinese company Southern Power Grid International (CSG). The Transelec property is now composed of Canadian Pension Plan Investment Board (CPP), British Columbia Investment Management Corp. (bcIMC), Public Sector Pension Investment Board (PSP) and China Southern Power Grid International (CSG), who place their great financial strength and operational experience at the service of the country’s growth needs.
The profit sharing policy states that during a specific fiscal year, the Board of Directors aims to distribute 100% of the net profits reported as dividends, considering the company’s financial situation, commitments made by Transelec when the company issued bonds on the national and international markets, and considering the impacts of implementing IFRS.
No dividend may be declared if it would prevent the company from meeting its financial commitments.
With respect to a specific fiscal year, the Board of Directors may consider it appropriate to declare temporary dividends that could be distributed depending on conditions at the time. Overall temporary dividends shall not exceed 75% of the company’s profit that can be distributed for the current fiscal year according to the latest forecast available.
Our shareholders have created several committees in order to be kept informed regarding important issues and thus support the company at all levels.
Audit Committee
Creation of an Audit Committee was approved in April 2007. This committee is different from the committee indicated in the Corporations Law, whose duties include, among others, reviewing the company’s audit reports, balance sheets and other financial statements, and internal systems. The Transelec Audit Committee is comprised of four directors, who are appointed by the Board of Directors and serve for a terms two years, after which they may be re-elected. The Committee will elect a chairman from among its members and a secretary, who may be one of its members or the secretary of the Board of Directors.
Investor Advisory Committee
The Investor Advisory Committee is comprised of directors and senior executives. Its mission is to improve information submitted to the Board of Directors regarding the company’s different projects oportunities and thus facilitate decision making by the Board of Directors.
Corporate Reputation and Regulatory Committee
The Corporate Reputation and Regulatory Committee is comprised of company directors and executives. It meets twice per semester to review the Corporate Reputation and Regulatory Strategy, which will be executed in keeping with the main legal and regulatory amendments made in the power and environmental sectors, and to lead tariff setting processes for the national and zone power transmission systems.
Finance Commitee
The Finance Committee is made up of company directors and executives. It meets periodically to review the company’s financial strategy and to provide consultancy and approve different proposals that are important for the financial activities being executed by Transelec.
Human Resources Committee
The Human Resources Committee is comprised of company directors and executives. It meets at least once per year to review issues related to the people who make up the Transelec team. The issues reviewed include the revision of financial KPIs, which are the basis of the current variable bonus pyramidal structure at the company, as well as other issues related to the development of people, training, etc.
Operations Committee
The purpose of this Committee is to offer the Transelec Administration the opportunity to discuss issues of operations in detail with members of the Board. It is responsible for the supervision of health and safety programs stablished from Transelec’s recommendations on KPIs for health, safety and operation.
Corporate Governance Committee
The Corporate Governance Committee is comprised of Company directors and executives who meet twice per year to propose and nominate members of the Board of Directors and to evaluate their management. In addition, their mandate includes examination and evaluation of Transelec corporate governance guidelines and making recommendations regarding these to the Board of Directors.
Other Committees
Coordination Committees: these involve the different Transelec vice-presidencies and are held regularly in order to coordinate the most important issues for the company:
- Executive Committee
- Business Committee
- Projects Committee
- Operational Excellence and Results Committee
- Regulatory Agenda
- Innovation Committee
Integral management system committee: This committee has as it mission discuss about safety and ocupational security, envirinmental matters, and quality issues.
07
Innovation
Innovation and digital transformation are part of Transelec’s strategy. This development is essential for ensuring the company’s operational continuity and growth, preparing for risks and making the best decisions from an economic and technical perspective.
Transelec’s innovation portfolio consisted of a total 49 projects at nine development poles at the end of 2022.
We are thus incorporating technologies and intelligence to improve our processes, asset management and maintenance, placing innovation at the service of the company’s service quality, growth and productivity.
