The primary driver of Colbún’s renewable leap is the Horizonte wind park in Taltal, described as the company’s largest investment in its history and Chile’s largest single generation facility. The project’s commissioning established the Antofagasta region as a national wind hub and positioned Colbún as Chile’s largest operator by installed wind capacity. CEO José Ignacio Escobar stated that surpassing 70% renewable generation represents an inflection point, with Horizonte demonstrating the scale of clean generation and the Codelco contract showing how that capacity translates to industrial decarbonization.
The Codelco supply agreement, effective from 2026, commits Colbún to deliver 1,100 GWh annually of 100% renewable energy over 15 years, enabling the copper producer to avoid approximately 266,000 metric tons of CO₂ equivalent per year without altering production operations. Colbún currently supplies 24% of Chile’s large-scale mining electricity consumption. The company operates 5,000 MW of installed capacity across Chile and Peru and ranks as Chile’s second-largest generator.
Colbún’s emissions intensity has declined 41% since 2018, exceeding the company’s 30% target, and in 2025 the company’s renewable supply enabled clients to avoid over 1.6 million metric tons of CO₂ annually. Escobar emphasized that efficient thermal backup remains part of the portfolio to ensure supply security and continuity when renewable resources are unavailable. Separately, Chile’s National Electric System reached 70% renewable installed capacity by mid-2026, with energy storage capacity more than doubling to 2,071 MW, surpassing the 2030 interim target of 2,000 MW four years ahead of schedule. Renewable generation across the grid reached 62% in March 2026, with solar contributing 29%, wind 13%, and hydropower 17%.
This article was curated and published as part of our South American energy market coverage.
