Carey represents Codelco in amendment of PPA with Colbún

Carey has represented Corporación Nacional del Cobre (Codelco) in the amendment and recast of a Power Purchase Agreement (PPA) entered into with Colbún to supply renewable energy for Codelco’s total consumption, including the accreditation of renewable supply through the delivery of certificates (such as I-REC or similar).

This contract was initially signed to supply part of the consumption of Codelco’s divisions until December 2044.

The transaction was signed on 27 October, with Barros & Errázuriz (B&E) acting as advisor to Colbún. In addition, Asset / Moray advised on the financial aspect.

Thanks to this deal, it was possible to establish different supply periods with their own characteristics within the contract period, with the aim of moving towards a renewable supply accredited by a certification mechanism.

María Gabriela Campos and Rodrigo Pérez acted as in-house consultants for Codelco and Colbún, respectively.

B&E’s team consisted of partners Cristóbal Pellegrini and Luis Eduardo Toro, together with associate Javiera Lagos.

Carey’s team was led by partner José Miguel Bustamante (pictured left), with support from associates Pablo Morales (pictured right) and Santiago Lagos.