Hudbay inks renewable energy supply deal for Constancia mine
TSX-listed Hudbay Minerals has signed a new ten-year power purchase agreement (PPA) with ENGIE Energía Perú for access to a 100% renewable energy supply to its Constancia mine.
“Last December, Hudbay committed to reducing its 2030 greenhouse gas (GHG) emissions by 50% and achieving net zero by 2050. The signing of this ten-year PPA marks a major milestone for achieving Hudbay’s GHG reduction goals,” said president and CEO Peter Kukielski.
“We are proud of this achievement as it places Hudbay firmly in reach of achieving a 50% emissions reduction by 2030 and on track for net zero by 2050. Additionally, Hudbay’s low carbon footprint production will continue to produce the metals needed for the global transition to a low-carbon future.”
Following the end of the current power supply agreement in Peru, energy will be supplied by ENGIE Energía Perú starting on January 1, 2026.
In alignment with Hudbay’s GHG emissions reduction initiatives, the new contract includes the granting of renewable energy certificates (RECs) to Hudbay as an assurance of the supply of renewable energy dedicated to Constancia’s electricity consumption. These RECs will be applied to Hudbay’s energy consumption to enable the company to have a 100% carbon-neutral energy supply at its Constancia operations. As a result of the application of these RECs, total Scope 1 and Scope 2 GHG emissions company-wide at Hudbay’s current operations are expected to decline by 40% during the life of the contract, positioning the company well to achieve its 2030 climate change target of a 50% reduction in Scope 1 and Scope 2 GHG emissions.
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