Antofagasta PLC CENTINELA SIGNS RENEWABLE POWER CONTRACT (4682I)
02 April 2020 - 2:01AM
UK Regulatory
TIDMANTO
RNS Number : 4682I
Antofagasta PLC
01 April 2020
NEWS RELEASE, 1 APRIL 2020
CENTINELA SIGNS RENEWABLE POWER CONTRACT:
ALL ANTOFAGASTA MINES TO BE POWERED BY RENEWABLE ENERGY BY
2022
Antofagasta plc (the "Company") announces that Centinela has
signed a new Power Purchase Agreement ("PPA) with ENGIE Energía
Chile S.A. ("ENGIE") effective from 2022 until 2033. Under the PPA
100% of the power supplied to Centinela will be from renewable
sources.
As part of the transaction Centinela will cancel two existing
PPAs, that expire in 2026 and 2027, and the Company will sell its
indirect 40% interest in the Hornitos thermal power station to
ENGIE, resulting in an attributable post-tax write down of
approximately $43 million, which will be recognised in
Antofagasta's half year financial results.
After the write down, this new renewable energy contract will be
value accretive as power costs will be significantly reduced in
stages from 2020 onwards.
Antofagasta's CEO, Iv á n Arriagada, commented: "With the
completion of this agreement, from 2022 all our mining division's
power will be from renewable sources and at a lower cost as well.
This is an important step in achieving our target to reduce our
carbon emissions by 300,000 tonnes by 2022."
Investors Media - London
- London
Andrew Lindsay alindsay@antofagasta.co.uk Carole Cable antofagasta@brunswickgroup.com
Telephone +44 20 7808 0988 Telephone +44 20 7404 5959
Andres Vergara avergara@antofagasta.co.uk Will Medvei antofagasta@brunswickgroup.com
Telephone +44 20 7808 0988 Telephone +44 20 7404 5959
Media - Santiago
Pablo Orozco porozco@aminerals.cl
Paola Raffo praffo.van@aminerals.cl
Telephone +56 2 2798 7000
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