Colbun and Codelco agree on new renewable energy supply

Colbun (a Chilean power generation company) and Codelco (a copper extraction mining company in Chile) announced the modification of their electricity purchase agreement signed in January 2010, with both companies agreeing to gradually replace the electricity supply with one based on 100% renewable energy.

Based on the initial contract, Colbun annually supplies Codelco with 2,500 GWh/year through the Santa María Thermoelectric Power Plant. Concluded the transition period, from 2026 and on, Colbun will supply 1,000 GWh/year thanks to its solar, wind and new technology initiatives. The validity of the agreement will remain in the original terms until year 2044.

Codelco will cover the remaining 1,500 GWh/year through a bidding process that is being prepared and in which national or international companies will participate, which will also provide the company with renewable energies. The agreement with Colbun will allow Codelco to increase its clean energy matrix from 20% to 50% from year 2026.