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 — owned by Chile’s AME Group and France’s EDF — 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’s operations.

“With these contracts, we are strengthening our plan to completely decarbonize our electricity grid by 2030,” chief executive Rubén Alvarado said in the statement. “This reinforces the path towards sustainable mining, aligned with our purpose of being a pillar of sustainable development in Chile and the world.”

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 Colbún and CTA, freed up capacity beginning in 2026, enabling a pair of tenders. The first, awarded in 2024, went to Atlas, Innergex, and Colbún 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? 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’s total electricity.