Atlas Renewable Energy, a global provider of renewable energy solutions, has partnered with Grupo CAP, through its subsidiaries Compañía Minera del Pacífico (CMP) and Aguas CAP, to sign a 15-year power purchase agreement (PPA). This deal will see Atlas supply 450 GWh of clean energy annually to Chile’s major mining and steel companies. The agreement is one of the largest in terms of renewable energy and storage in both Atlas Renewable Energy’s history and Chile’s energy industry.
Grupo CAP has reached a commercial agreement to develop a solar project and battery storage system (BESS) in Chile’s Atacama region. The BESS will ensure a continuous supply of 100% clean energy, even during periods without sunlight, such as at night, helping to reduce CO2 emissions. This power purchase agreement is an important milestone in Chile’s decarbonization efforts, as it will lower CO2 emissions from the operations of CMP and Aguas CAP. By using renewable energy, these companies will reduce their environmental impact while maintaining production, which is particularly significant for the mining industry in Chile.
The use of BESS technology in this project plays a crucial role in helping Chile transition to a carbon-neutral energy grid by 2050. BESS systems help address the challenges of energy supply inconsistencies in renewable energy by ensuring a reliable and continuous power supply. This makes them a vital part of modern electrical systems. In Chile, one of the key trends in the electricity sector is combining solar photovoltaic systems with BESS solutions, and Atlas Renewable Energy is at the forefront of this movement. The company is developing three projects to support the PPAs signed in 2023 and 2024, which will deliver 475 MW of solar power and 616 MW of storage.
Alfredo Solar, Atlas Renewable Energy’s Regional Manager for Chile and the Southern Cone, said in a statement, “This new supply agreement highlights Atlas’ continued role as a strategic energy solutions partner for major players across several industries, including Copec – through its energy marketing subsidiary EMOAC – and CODELCO, both of whom have entrusted us to power their operations through long-term contracts. With our latest landmark PPA, we are increasing our installed capacity in Chile by more than 1,000 MW through solar and BESS projects.”
Francisco Carvajal, CEO of CMP, mentioned, “This milestone reaffirms CMP’s leadership as a key player in the transition to a more sustainable mining industry. These agreements not only guarantee a reliable and renewable electricity supply but also reinforce our commitment to operational efficiency and the sustainable development of the communities where we operate. It is a decisive step towards the future we want to continue building for CMP and the regions where we operate.”
He further continued, “We have reinforced our commitment to the strategy of leading the critical materials for the decarbonization of the CAP Group. In addition, it allows us to continue advancing in the use of world-class technologies and, thus, to continue contributing to the sustainable development of the Atacama region and the country.”
Atlas Renewable Energy’s strategy centers on helping major companies transition to clean energy. The company is well-known for its commitment to high standards in developing, building, and operating large-scale projects. It also has a strong and long-standing record in environmental, social, and governance (ESG) practices, as well as sustainability efforts.
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