Carey has helped multinational power company Sonnedix’s Chilean business Atacama Solar seal two separate power purchase agreements (PPA) with Chilean miner Collahuasi and local power company AES Gener.
Collahuasi relied on in-house counsel, while AES Gener enlisted local firm Claro & Cía.
The deal was announced on 29 July.
In the first agreement, Sonnedix’s Atacama solar park – which is still under construction – will supply 150 gigawatt hours per year to Collahuasi to provide its copper mining operations with renewable power. The long-term PPA is expected to help Collahuasi reach 12% of its target to become entirely powered by renewable energy.
Collahausi is the world’s sixth-largest copper mine, located in Chile’s northern Tarapacá region. In 2019, it produced 565,000 tonnes of copper and had a revenue of US$3.4 billion.
Sonnedix also signed a 10-year PPA with AES Gener. Sonnedix will supply the power from the same Atacama solar park in northern Chile, and AES Gener will later distribute it to its clients.
Sonnedix has over 260 power plants across eight countries, including Chile, Spain and the US among others. Construction of the Atacama solar park in the northern desert region of Tarapacá began in August 2019 with operations due to commence in December this year.
Besides its operations in northern Chile, Sonnedix obtained a US$87 million financing in May to purchase a portfolio of 20 solar plants in central Chile with a combined installed capacity of 100 megawatts.
Counsel to Sonnedix
Partner José Miguel Bustamante and associate Rosario Martínez
Counsel to AES Gener
In-house counsel - Mariangel Mandiola
Claro & Cía
Partner Ariel Mihovilovic and associate Bastián Cabrera
Counsel to Collahausi
In-house counsel - María Soledad Martínez