Codelco inks energy deals for 100% clean matrix by 2030
Chilean copper giant Codelco has signed two energy contracts as part of its goal to run entirely on clean electricity by 2030.
The state-run miner said the deals will deliver 1.5 terawatt-hours of green power annually starting in 2026, sourced from Generadora Metropolitana 鈥 owned by Chile’s AME Group and France鈥檚 EDF 鈥 and GR Power Chile.
The contracts, awarded through a public tender, include lithium-ion battery storage and will run from January 2026 to December 2040. They will supply both current and future energy needs across Codelco鈥檚 operations.
鈥淲ith these contracts, we are strengthening our plan to completely decarbonize our electricity grid by 2030,鈥 chief executive Rub茅n Alvarado said in the statement. 鈥淭his reinforces the path towards sustainable mining, aligned with our purpose of being a pillar of sustainable development in Chile and the world.鈥
Codelco began its shift to renewables in 2018, renegotiating legacy contracts and launching new tenders to replace coal-based power with cleaner, cheaper, and more stable energy sources.
One of those renegotiations, with Colb煤n and CTA, freed up capacity beginning in 2026, enabling a pair of tenders. The first, awarded in 2024, went to Atlas, Innergex, and Colb煤n for 1,800 GWh per year. The second, sparked by a renegotiation with Engie (CTA), led to the agreements just finalized.
The shift is expected to cut annual CO鈧 emissions by 2.78 million tonnes, as Codelco replaces all remaining fossil-fuel electricity with renewables. The move also shields the company from potential carbon tax hikes and future regulatory costs.
Codelco currently consumes about 9% of Chile鈥檚 total electricity.
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