Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK)
(“Teck”) and The AES Corporation (NYSE: AES) announced today that
their Chilean affiliates, Compañía Minera Teck Carmen de Andacollo
S.A. ("CdA”) and AES Gener S.A (“AES Gener”), have entered into a
long-term power purchase agreement to provide 100% renewable power
for Teck’s Carmen de Andacollo Operation in Chile.
Under the agreement, CdA will source 72 Megawatts (MW) (550
GWh/year) from AES Gener’s growing renewable portfolio of wind,
solar and hydroelectric energy. The transition to renewable power
will replace previous fossil fuel power sources and eliminate
approximately 200,000 tonnes of greenhouse gas (GHG) emissions
annually, the equivalent to removing over 40,000 passenger vehicles
from the road.
“Teck is tackling the global challenge of climate change by
reducing the carbon footprint of our operations and working towards
our goal of becoming carbon neutral,” said Don Lindsay, President
and CEO of Teck. “This agreement takes Teck a step closer to
achieving our sustainability goals, while also ensuring a reliable,
long-term clean power supply for CdA at a reduced cost to
Teck.”
“We are honored to continue working together
with Teck to help them progress towards their goal of carbon
neutrality,” said Andrés Gluski, AES Corporation President and
Chief Executive Officer. “By providing Teck with innovative
renewable energy solutions, AES Gener is helping build Chile’s
sustainable and reliable grid of the future.”
As part of its updated Sustainability Strategy, Teck has set the
goal of being a carbon neutral operator by 2050. In support of that
that long-term objective, Teck has established milestone goals
including sourcing 100% of all power needs in Chile from renewable
power by 2030 and reducing the carbon intensity of operations by
33% by 2030. Teck previously announced an agreement with AES Gener
to supply renewable power for the Quebrada Blanca Phase 2 (QB2)
project currently under construction. Once effective, more than 50%
of QB2’s total operating power needs will be from renewable
sources.
The Carmen de Andacollo renewable power arrangement is in effect
as of September 1, 2020 and will run through to the end of
2031.
“Switching to clean, renewable power for Carmen de Andacollo is
another step forward in our ongoing commitment to responsible
resource development across our operations and activities,” said
Alejandro Vásquez, Vice President, South America, Teck.
“The contract we have signed with Compañía Minera Teck Carmen de
Andacollo constitutes a new step in the execution of our Greentegra
strategy. The agreement reflects the excellent relationships we
have with our business partners, whom trust AES Gener as their
provider of smart, innovative, competitive and sustainable energy
solutions”, said AES Gener CEO, Ricardo Falú.
Carmen de Andacollo is a copper mine located in the Coquimbo
Region of central Chile, approximately 350 kilometres north of
Santiago. Teck owns a 90% interest in the mine. Empresa Nacional de
Minería holds the remaining 10%.
Forward-Looking Statements - Teck This press
release contains certain forward-looking statements within the
meaning of the United States Private Securities Litigation Reform
Act of 1995 and forward-looking information as defined in the
Securities Act (Ontario). Forward-looking statements and
information can be identified by the use of words such as
"expects", "intends", "is expected", "potential" or variations of
such words and phrases or statements that certain actions, events
or results "may", "could", "should", "would", "might" or "will" be
taken, occur, or be achieved. Forward-looking statements include
statements regarding anticipated annual elimination of GHG
emissions; Teck’s goal of being a carbon neutral operator by 2050;
Teck’s milestone of sourcing 100% of all power needs in Chile from
renewable power by 2030 and reducing the carbon intensity of
operations by 33%; and expectation that more than 50% of QB2’s
total operating power needs will be from renewable sources.
The forward-looking statements in this release are based on a
number of assumptions, including, but not limited to, assumptions
regarding the ultimate sources of power under the power
arrangements; availability of technology to achieve carbon
neutrality on commercially reasonable terms; and availability of
sufficient renewable power in Chile on commercially reasonable
terms. Forward-looking statements involve known and unknown risks,
uncertainties and other factors, which may cause the actual
results, performance or achievements of Teck to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking statements. Factors
that may cause actual results to vary include, but are not limited
to, ultimate sources of power under the power arrangements; cost of
decarbonization and other climate impact initiatives; lack of
availability of carbon neutral technology or renewable power
on commercially reasonable terms; failures in performance by
contractual counterparties, and other risk factors as detailed from
time to time in Teck's reports filed with Canadian securities
administrators and the U.S. Securities and Exchange Commission.
Certain of these risks are described in more detail in the
annual information form of Teck and in its public filings with
Canadian securities administrators and the U.S. Securities and
Exchange Commission. Teck does not assume the obligation to revise
or update these forward-looking statements after the date of this
document or to revise them to reflect the occurrence of future
unanticipated events, except as may be required under applicable
securities laws.
About TeckTeck is a diversified
resource company committed to responsible mining and mineral
development with major business units focused on copper,
steelmaking coal and zinc, as well as investments in energy assets.
Headquartered in Vancouver, Canada, its shares are listed on the
Toronto Stock Exchange under the symbols TECK.A and TECK.B and the
New York Stock Exchange under the symbol TECK. Learn more about
Teck at www.teck.com or follow @TeckResources.
About AESThe AES Corporation
(NYSE: AES) is a Fortune 500 global power company. It
provides affordable, sustainable energy to 14 countries through
their diverse portfolio of distribution businesses as well as
thermal and renewable generation facilities. Its workforce is
committed to operational excellence and meeting the world's
changing power needs. Its 2019 revenues were $10 billion and
it owns and manages $34 billion in total assets. To learn
more, please visit www.aes.com. Follow AES on
Twitter @TheAESCorp.
About AES GenerAES Gener generates
and sells electricity in Chile, Colombia, and Argentina with the
mission of improving lives by accelerating a safer and greener
energy future. The Company operates a total installed capacity of
5,299MW in the region along with an extensive portfolio of
renewable energy projects under development. The Company is the
largest generator in Chile in 2020, with a diversified portfolio
including hydro, wind, solar, energy storage, biomass, gas, and
coal-fired power plants.
AES Gener owns and operates 3,615MW in Chile,
comprised of 3,068MW of thermoelectric, 271MW of hydroelectric,
110MW of wind, 92MW of solar photovoltaic and 13MW of biomass
capacity, in addition to 62MW of battery energy storage systems,
seawater desalination plants, transmission lines, and gas
pipelines. AES Gener also owns hydroelectric and solar plants in
Colombia with a total capacity of 1,041 MW and a combined-cycle
natural gas plant in Argentina with an installed capacity of 643
MW.
AES Gener is 66.7% owned by The AES
Corporation.
To learn more about AES Gener, please visit
www.aesgener.cl/investorsFollow AES Gener on
Twitter @AESGener
Teck Media Contact:Chris Stannell Public
Relations Manager604.699.4368chris.stannell@teck.com
Teck Investor Contact:Fraser PhillipsSenior
Vice President, Investor Relations and Strategic
Analysis604.699.4621fraser.phillips@teck.com
Teck Chile Media
Contact:Claudia Raggi Senior Communications Specialist
+56.2.24645644Claudia.Raggi@teck.com
AES Media Contact:Gail Chalef,
Senior Manager, Global Press and Media Relations+1-703-682-6428,
officegail.chalef@aes.com
AES Gener Media Contact:Karin
Niklander, External Communications Manager+56 996991442
karin.niklander@aes.com
AES Gener Investor Contact:John
Wills, Head of Investor Relations Johnw.wills@aes.com
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