Codelco awarded Norvind and Arauco NCRE credits bid
The acquisition has the purpose to comply with Law No. 20.057 by which generators are to certify that a percentage of the consumed power is generated from renewable sources. Although the obligation is to be enforced on electric power companies it is also transferred to free customers like Codelco
Codelco has completed the NCRE Credits Bid process for 2013-2017 period by awarding Norvind S.A. and Arauco Bionergía S.A. (Arauco). The process started in September 2012 when a call for public bids was made for the purchase of NCRE block certification for a total of up to 180GWh per year for the 2013-2017 period.
Norvind S..A is the owner of an eolic farm in the IV Region and will provide 42% of energy while Arauco, owner of several thermal-forest biomass cogeneration plants will supply the remaining 58%. The call for bids received 14 offers.
The acquisition has the purpose to comply with Law No. 20.057 by which generators are to certify that a percentage of the consumed power is generated from renewable sources. Although the obligation is to be enforced on electric power companies it is also transferred to free customers like Codelco.
Codelco agreed with the companies the state-owned holds valid power supply contracts the possibility to manage the statutory NCRE credits right acquisition through third parties by lately transferring the use of that NCRE injection to the electric power companies for their subsequent accreditation as well; consequently, the credits obtained will be used to cover the electric power supply requirements of the contracts of the company Divisions.
“We are very pleased with the NCRE bid results. This will allow us meet the law that supports the incorporation of renewable energy to the energy matrix of the country by having contracts with the first-level companies at competitive prices that will also give us the possibility to reduce our costs”, Andrés Alonso, Energy and Water Resources Manager for Codelco, indicated.
Source: La Tercera
