ATLAS RENEWABLE ENERGY AND CODELCO SIGN LANDMARK 24/7 PPA FOR THE IMPLEMENTATION OF A NEW SOLAR PROJECT WITH BATTERY ENERGY STORAGE SYSTEM IN CHILE
- With this PPA, Atlas will supply Codelco, the world's largest copper producer, with nearly 375 GWh/year for 15 years.
- Atlas will be developing, constructing and operating a new renewable energy project with an integrated battery energy storage system in Chile.
SANTIAGO, Chile, March 6, 2024 /PRNewswire/ -- Atlas Renewable Energy, an international renewable energy leader, has signed a power purchase agreement (PPA) with Codelco, the state-owned Chilean mining company and the world's largest copper producer, for the supply of 375 GWh of 24/7 energy per year, to be generated by a new renewable energy project in Chile, which will have an integrated battery energy storage system.
The PPA, which incorporates advanced technology, including the use of batteries, was signed after Codelco held a public tender, to which Atlas was awarded and will start to supply clean, renewable energy in 2026, for the next 15 years.
Atlas' pioneering commitment in Chile and the region aims to enhance stability and reliability in electricity supply. This project, incorporating cutting-edge technology and solar energy expertise, marks a breakthrough in Chile, and the region's energy supply contracts. It also strengthens Atlas' ongoing efforts to deliver clean energy to the region's major consumers with competitive solutions.
"The formalization of this PPA with Codelco, a world-renowned institution in the world's mining industry, underlines Atlas Renewable Energy's commitment to develop innovative energy solutions tailored to our customers' needs. 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. We are determined to be the partner of choice for large corporations looking to make the energy transition, and to do so we will endeavor to continue innovating to find ways to better serve our customer's needs," said Carlos Barrera, CEO of Atlas Renewable Energy.
This agreement demonstrates Codelco's trust in Atlas, leveraging its proven track record in providing clean energy to the mining sector. Atlas successfully constructed the Javiera Solar Plant in 2015, supplying 161 GWh annually to a significant Chilean mine, and the Lar do Sol Solar Plant in 2023, delivering 540 GWh a year to Anglo American in Brazil.
About Atlas Renewable Energy
Atlas Renewable Energy is an international renewable energy generation company that has developed and built about 5 GW of renewable energy assets, of which 2.7 GW are operational. Atlas has specialized in developing, financing, constructing, and operating renewable energy projects by implementing and designing solar, wind and energy storage systems solutions since early 2017. The company has an experienced team with a deep global power market and renewable energy expertise, with the longest track record in the renewable energy industry in Ibero-America.
The company's strategy is focused on helping large corporates make the energy transition to 100% clean energy. Atlas Renewable Energy is widely recognized for its high standards in developing, constructing, and operating large-scale projects, as well as its deep and long-standing track record in ESG and sustainable development.
For more details, please visit: www.AtlasRenewableEnergy.com
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