COPEC and EMOAC sign solar energy supply agreement with storage with Spain's Grenergy

PRESS RELEASE from Copec and Grenergy
November 24, 2023

(Machine translation of the original release, issued in Spanish)

Santiago, November 24, 2023.- In line with the commitment to promote the energy transition towards a more sustainable future and increase the use of renewable energy, Copec, through EMOAC, its renewable energy marketing company, signed this week a agreement with the Spanish Grenergy, which enables the development of generation projects that combine solar generation and energy storage in Chile.

With an agreement of nearly 540 Gigs/year of renewable energy, the initiative marks a milestone in the energy market with large-scale storage.

It should be noted that Grenergy arrived in Chile in 2012, from where it centralizes all its operations in South America. After more than a decade in the country, it has become the company with the largest number of connected plants - more than 70 - and with projects totaling nearly 1.3 gigawatts (GW), including those built and under construction.

This 100% renewable energy contract through combined solar energy and battery systems is one of the important steps taken by Copec, through its subsidiary EMOAC, in its decision to move towards cleaner energy, which they hope will This achievement accelerates and favors the energy transition. In this sense, the supply will make it possible to supply the electrical consumption of free customers, service stations and will also enable the growth of electromobility at the national level.

Arturo Natho, general manager of Copec, highlighted that “we are very excited about this agreement, as it allows us to advance our commitment to the development of new forms of energy aligned with environmental challenges. We believe that energy storage is key to advancing and achieving the energy transition that we as a country seek, since this type of technology allows the integration, stability and continuity of the energy supply from renewable sources, resolving factors as relevant as intermittency."

For his part, David Ruiz de Andrés, CEO of Grenergy, pointed out that “Grenergy has been characterized since its origins by being a pioneering company and with this agreement it once again reaches a historic milestone within the renewable industry.” .

Vannia Toro, partner and general manager of EMOAC, highlighted that “this is a great milestone for our market and sector, as it allows us to continue with a focus dedicated to customers, ensuring a clean energy supply, demonstrating that through innovation, energy marketing companies can leverage the development of long-term renewable investments. And, contrary to common perception, not only regulated tenders or contracts with large mining companies are the only mechanisms that enable the integration of new energy into the system.”