Teck and AES Enter Renewable PPA to Power Copper Project

Teck Resources and AES have announced that their Chilean affiliates have entered into a renewable PPA for the Quebrada Blanca Phase 2 copper project in Chile

Teck Resources Limited and the AES Corporation have announced that their Chilean affiliates, Compañía Minera Teck Quebrada Blanca (CMTQB) and AES Gener, have entered into a long-term renewable power purchase agreement (PPA) for the Quebrada Blanca Phase 2 copper project (QB2) in Chile, enabling the transition to renewable energy for approximately half the power required for operation of QB2.

Under this arrangement, CMTQB will source 118 Megawatts (MW) for Quebrada Blanca Phase 2 from AES Gener’s growing renewable portfolio of wind, solar and hydroelectric energy, in addition to the 21 MW of solar power already contracted from AES Gener. Once effective, more than 50 percent of QB2’s total operating power needs are expected to be from renewable sources.

The transition to renewable power will replace QB2’s previous fossil fuel power sources which will avoid approximately 800,000 tonnes of greenhouse gas (GHG) emissions annually. That is equivalent to the emissions of about 170,000 combustion engine passenger vehicles – equal to permanently parking more than half of all the cars in the City of Vancouver or all the cars in the Tarapacá Region of Chile where QB2 is located.

“Switching to renewable power for QB2 is part of Teck’s ongoing work to reduce emissions, achieve carbon neutrality across our business, and support global action on climate change,” said Don Lindsay, President and CEO of Teck. “This agreement secures reliable, long-term power for our major copper growth project at no additional cost, while helping to reduce our environmental footprint. We will continue to explore further opportunities to increase the use of renewable energy as part of Teck’s ongoing focus on decarbonisation.”

QB2 is one of the world’s largest undeveloped copper resources. It is currently under construction and when complete, will be a premier asset with low operating costs, an initial mine life of 28 years and significant potential for further growth. In addition to renewable power, QB2 will also feature the first large-scale use of desalinated seawater for mining in the Tarapacá Region of Chile, in place of freshwater use.