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STATEMENT: Atlas Renewable Energy and Codelco sign historic 24/7 PPA for a new solar project in Chile

(Information sent by the signatory company).

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STATEMENT: Atlas Renewable Energy and Codelco sign historic 24/7 PPA for a new solar project in Chile

(Information sent by the signatory company)

- Atlas Renewable Energy and Codelco sign historic 24/7 PPA for the implementation of a new solar project with a battery energy storage system in Chile

SANTIAGO, Chile, March 6, 2024 /PRNewswire/ -- Atlas Renewable Energy, an international leader in renewable energy, signed a power purchase agreement (PPA) with Codelco, the Chilean state-owned mining company and the world's largest copper producer, to the supply of 375 GWh of energy 24 hours a day, 7 days a week, per year, generated by a new renewable energy project in Chile, which will have an integrated battery energy storage system.

The PPA, which incorporates advanced technology, including the use of batteries, was signed after Codelco carried out a public tender, in which Atlas was awarded and will begin supplying clean and renewable energy in 2026, for the next 15 years.

Atlas' pioneering commitment in Chile and the region aims to improve the stability and reliability of the electricity supply. This project, which incorporates cutting-edge technology and experience in solar energy, marks a great advance in Chile and in the region's energy supply contracts. It also reinforces Atlas' continued efforts to deliver clean energy to the region's major consumers with competitive solutions.

"The formalization of this PPA with Codelco, a world-renowned institution in the global mining industry, underlines Atlas Renewable Energy's commitment to developing innovative energy solutions adapted to the needs of our customers. With this project, we formally announce our entry into the battery storage technology. We see this as an essential element to materially amplify the volume of renewable energy sources in the electricity system and to offer our customers a broader set of energy solutions. We are determined to be the partner of choice for major corporations seeking to make the energy transition, and to do so we will strive to continue innovating to find ways to better serve the needs of our customers," said Carlos Barrera, CEO of Atlas Renewable Energy.

This agreement demonstrates Codelco's confidence in Atlas, taking advantage of its proven track record in providing clean energy to the mining sector. Atlas successfully built the Javiera Solar Plant in 2015, supplying 161 GWh per year to a major Chilean mine, and the Lar do Sol Solar Plant in 2023, delivering 540 GWh per year to Anglo American in Brazil.

About Atlas Renewable Energy

Atlas Renewable Energy is an international renewable energy generation company that has developed and built around 5 GW of renewable energy assets, of which 2.7 GW are operational. Atlas has specialized in the development, financing, construction and operation of renewable energy projects by implementing and designing solar, wind and solar energy storage system solutions since early 2017. The company has an experienced team with deep experience in the global energy market and in renewable energies, with the longest track record in the renewable energy industry in Latin America.

The company's strategy focuses on helping large corporations make the energy transition to 100% clean energy. Atlas Renewable Energy is widely recognized for its high standards in the development, construction and operation of large-scale projects, as well as its deep and long track record in ESG and sustainable development.

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