Antofagasta Minerals sells its stake in El Arrayán Wind Farm

Tuesday, August 21, 2018

This press release from Antofagasta Minerals was published using an automatic translation system.

Within the framework of its strategy of concentrating its investments and management in the development of the mining business and divesting of assets in water and energy, Antofagasta Minerals today announced the sale of its 29.25% stake in the El Arrayán Wind Farm to the company Arroyo Energy Investors, for an amount of US $ 27.97 million.

Start your 15 day free trial now!


Already a subscriber? Please, login

"This decision, such as those we have already made in relation to several other non-mining assets, confirms our strategy of focusing our investments and energies on our mining operations and projects , " said Iván Arriagada, Executive President of Antofagasta plc. The executive recalled that Antofagasta Minerals had already detached several assets from the Energy area, including the transmission lines of Minera Centinela and its shares in the Javiera photovoltaic plant and the Alto Maipo hydroelectric plant.

It should be noted that the majority partner in the wind farm, the US company Pattern Energy, in May of this year announced its intention to sell its 70.75% stake to Arroyo.

In 2017, 54% of the energy consumption of Los Pelambres came from sources of Non-Conventional Renewable Energy (ERNC), including that generated at the El Arrayán wind farm and two photovoltaic plants. The sale of the stake in El Arrayán is independent of the objective of continuing to increase the share of renewable energies in the supply of Minera Los Pelambres and the other operations of the Antofagasta Minerals group.