Antofagasta’s subsidiary Antofagasta Minerals has completed the sale of its 29.25% stake in Parque Eolico El Arrayan wind farm $28m.
The wind farm supplies renewable energy to Los Pelambres. Antofagasta CEO Ivan Arriagada said: “This decision is consistent with the Group’s strategy of concentrating our investments and time in our mining operations and projects.
“Antofagasta has already sold other power assets, including Centinela´s transmission lines, its stake in Javiera photovoltaic plant and Alto Maipo hydro power station, all of which are deemed non-core assets.”
Last year, 54% of Los Pelambres’ energy consumption came from Non-Conventional Renewable Energy (NCRE) sources, including Parque Eólico El Arrayán and two photovoltaic plants. The objective to increase renewable energy sources to Minera Los Pelambres and the other operations in the Group remains in place and is not impacted by the sale of Antofagasta´s stake in El Arrayán.
Source: Company Press Release