Chile’s Largest Copper Producer Contracts Renewable Energy

• Codelco has completed its 2.5 TWh/year renewable energy procurement auction in Chile 
• It has selected Atlas Renewable Energy, Colbún & and Innergex Renewable Energy for a total 1.8 TWh/year 
• Each of these companies will ensure clean energy supply to the miner for 15 years from 2026 to 2040 

Chile's state-owned Codelco, one of the world's largest copper producers, has completed its competitive solicitation drive to select 3 companies for a 15-year 1,825 GWh/year renewable energy supply starting from January 1, 2026. Out of more than 50 national and international bidders, it selected 3 companies.

Atlas Renewable Energy has been signed on to supply 375 GWh/year 24×7 from a new solar and integrated battery energy storage system (BESS) in Chile. This is Atlas' 1st project with battery storage. 

Atlas CEO Carlos Barrera said, "With this project, we formally announce our entry into battery storage technology. We see this as an essential element to materially amplify the volume of renewable energy sources in the power system, and to offer our customers a broader suite of energy solutions." 

Chilean utility Colbún has won the contract for 1.1 TWh/year to support Codelco's mining operations in Chile. While Colbún did not reveal the source technology for this supply, it said both the companies may consider innovative value-added solutions through its energy solutions company Colbún Soluciones, without sharing the details. 

Canada-headquartered Innergex Renewable Energy has also been selected by Codelco for a 350 GWh/year supply under the auction. 

"The long-term nature of the power purchase agreement further enhances the quality and resilience of Innergex's cash flows. By securing revenues for the equivalent of 135 MW of wind and solar capacity in Chile, this agreement directly contributes to the targeted growth of Innergex," stated Innergex. 

The Chilean copper miner had launched the tender to procure 2.5 TWh/year of renewable energy to power its operations in the country's central and northern zones. The supply is sought from January 1, 2026 to December 31, 2040 (see Chilean Copper Miner Seeking Renewable Energy Supply). 

"This new tender is another important step, which will lead Codelco to achieve over 85% of its electrical energy consumption from renewable sources and which, added to the renegotiations of coal-based contracts, has also allowed us to access better market conditions," said Vice President of Supply of Codelco, Mauricio Acuña.