Renewable Energy PPA: Innergex securing a Milestone Power Purchase Agreement in Chile

published on 04 March 2024


Have you ever wondered about the impact of renewable energy on the mining industry? Innergex Renewable Energy Inc. has recently made headlines by securing a significant power purchase agreement (PPA) with Codelco, Chile's largest mining company. This blog will explore the details of this landmark deal and its implications for the renewable energy sector.

A Pivotal Moment for Innergex:

The agreement marks a pivotal moment in Innergex's trajectory, as it attracts interest from top-tier off-takers. The company has been awarded 350 GWh per year in Codelco's latest request for proposals. This not only solidifies Innergex's position as a leader in Chile's renewable energy market but also secures revenues over 15 years, ensuring long-term financial stability.

Strengthening the Portfolio:

Innergex's success in this deal is backed by its multi-technology renewable projects and assets, which offer a de-risked approach to energy supply. The contract secures long-term stable revenues for the portfolio, extending the overall contracted and cash flow profile. This agreement provides the optionality to build additional capacity, contributing directly to Innergex's targeted growth.

Implications and Future Prospects:

The long-term nature of the PPA enhances the quality and resilience of Innergex's cash flows. With 705 MW of installed capacity in Chile, including 50 MW of complementary battery storage, and approximately 620 MW of projects at different stages of development, Innergex is well-positioned to support the growing demand for 24/7 renewable energy production. This deal reaffirms Innergex's commitment to delivering innovative solutions that support sustainable development and contribute to greening the mining industry.


Innergex's recent power purchase agreement with Codelco represents a significant milestone in the renewable energy sector, particularly in Chile. By securing long-term revenues and strengthening its portfolio, Innergex is poised for continued growth and success in providing clean energy solutions. This deal not only highlights the importance of renewable energy in the mining industry but also sets a precedent for future collaborations between energy providers and industrial off-takers.

The above analysis is proprietary to Enerdatics’ energy analytics team, based on the current understanding of the available data. The information is subject to change and should not be taken to constitute professional advice or a recommendation.

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