Chilean iron ore and steel producer Grupo CAP has inked a 15-year deal with global renewable energy developer Atlas Renewable Energy through its subsidiaries Compañía Minera del Pacífico (CMP) and Aguas CAP for the supply of clean energy. The collaboration marks one of the largest renewable energy and storage agreements for both Atlas Renewable Energy and for Chile’s energy sector.
Under the agreement, Atlas will provide 450 GWh of renewable energy per year, reducing CMP and Aguas CAP’s emissions from their operations and contributing to Chile’s decarbonization goals. For this purpose, the energy developer will build a solar project and battery energy storage system in the Atacama region, enabling the project to provide energy 24 hours a day even during nighttime.
“With our latest landmark power purchase agreement, we are increasing our installed capacity in Chile by more than 1,000 MW through solar and battery energy storage system projects,” the statement released by Atlas reads.