SunEdison, Inc. (NYSE: SUNE), a leading global provider of solar energy services, and Los Pelambres mine, today announced that they have reached an agreement for the long-term sale of power to Los Pelambres.
The mine is owned by Antofagasta Minerals S.A., the largest private mining group inChile and one of the nine largest copper-producers in the world. Under the agreement SunEdison will supply the power produced by the Javiera solar photovoltaic project, with a capacity of 69.5 megawatts (MW) DC, for operations at Los Pelambres mine.
This project demonstrates the competitiveness of solar energy in Chile, especially in the Chilean mining and industry market, where SunEdison has innovated to deliver cost savings by transforming how energy is generated.
Jose Perez, president of SunEdison for Europe, the Middle East, Africa and Latin America, said: “Today an agreement is being signed between two global industry leading companies that believe in a more sustainable future forChile. This landmark project reinforces SunEdison’s ability to offer competitive, innovative and sustainable energy solutions to its customers and reaffirms SunEdison’s leading role inLatin America.”
Los Pelambres general manager Robert Mayne-Nicholls said: “The initiative is in line with our goal to increase sustainability in our power supply mix at competitive prices. When operations began in 2000, we incorporated an energy generation mechanism into our conveyor belts, and as of this year, wind energy contracts. In the near-term, through 2015, we’ll incorporate solar photovoltaic energy and more than 30% of our energy supply will be realized through renewable projects. In the medium-term we will add run-of-the-river hydro-electricity and become a leading mining company in the use of clean sources of energy.”
The Javiera power plant, located in the Atacama Region, is already under construction and is expected to be connected to the grid in the first months of 2015. The project will deliver all its electricity to the Central Interconnected System (SIC) and will supply Los Pelambres, a copper concentrate and molybdenum mine located in the Coquimbo Region. The term of the contract between the two companies is 20 years.
SunEdison is a global leader in transforming how energy is generated, distributed and owned. SunEdison manufactures solar technology and develops, finances, installs and operates distributed solar power plants, delivering predictably priced electricity and services to its residential, commercial, government and utility customers. SunEdison also provides 24/7 asset management, monitoring and reporting services for hundreds of solar systems worldwide via the company’s Renewable Operation Center (ROC). SunEdison has offices inNorth America, Europe, Latin America, Africa and Asia. SunEdison’s common stock is listed on the New York Stock Exchange under the symbol “SUNE.”
Antofagasta Minerals is the largest privately held mining group in Chile. In 2013, it produced 721,200 metric tons of copper in concentrate and cathodes, making it the fourth largest copper producer inChile and ninth in the world. Last year, it also produced 9,000 tons of molybdenum concentrate and 293,800 ounces of gold.
The company is a subsidiary of Antofagasta plc, the only Chilean company that lists its shares on the London Stock Exchange, where it is part of the FTSE 100. Its mining operations, Centinela, Michilla, and Los Pelambre, are located in northern and centralChile.
TerraForm Power (NASDAQ: TERP) is a global renewable energy company that is helping change the way renewable energy is generated, distributed, used and owned. TerraForm Power creates value for its investors by owning and operating high quality solar power portfolios around the globe. While TerraForm Power owns and operates some of the world’s most technologically advanced solar installations, the company intend to acquire other clean power generation assets including wind, geothermal, hydroelectric and hybrid energy solutions where the right opportunities present themselves with a goal to provide power around the clock.
