Codelco opens bidding for 1.5 TWh/year of renewable power

Chilean state-owned copper miner Codelco on Monday launched a tender process to procure 1,500 GWh of renewable power annually for 15 years through 2040.

The company is inviting experienced domestic and foreign companies to participate in the 2024 Bidding Process with an offering of both non-conventional and conventional renewables.

The power supply period will run from January 1, 2026, to December 31, 2040, Codelco said.

Through this procurement, Codelco aims to not only to secure power for itself and its mines. It said that it also wants to meet any other electricity demand of its third-party suppliers.

The calculated annual volume of 1,500 GWh follows the recent revision of terms in an old coal-based power purchase agreement (PPA) and is part of Codelco’s efforts to decarbonise its power supply.

Interested parties can send an email to Codelco by no later than July 19, 2024, to express their interest. The tender process will consist of a pre-qualification phase and a qualification phase during which the pre-qualified companies can submit their bids. The entire process will be managed through Codelco's online bidding administration system.

Codelco finalised one renewable power procurement earlier this year, awarding 15-year PPAs for 1.8 TWh/year to Atlas Renewable Energy, Colbun SA and Innergex Renewable Energy Inc (TSE:INE).

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