Hudbay signs new 10-year power purchase agreement with ENGIE Energia Peru

Hudbay Minerals announces the signing of a new 10-year power purchase agreement with ENGIE Energia Peru for access to a 100% renewable energy supply to Hudbay’s Constancia operations in Peru. "Last December, Hudbay committed to reducing its 2030 greenhouse gas emissions by 50% and achieving net zero by 2050. The signing of this 10-year power purchase agreement marks a major milestone for achieving Hudbay’s greenhouse gas reduction goals," said Peter Kukielski, Hudbay’s President and Chief Executive Officer. "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." Guaranteed Supply of Renewable Energy: Following the end of the current power supply agreement in Peru, energy will be supplied by ENGIE Energia Peru starting on January 1, 2026, with a 10-year term. The new agreement ensures a consistent and guaranteed supply of renewable energy sufficient for Hudbay’s Constancia operation. The new contract provides improved flexibility in power supply levels and lower contracted costs as compared to the existing power supply contract. The contract functions on a consumption basis, ensuring the company’s costs are variable based on actual usage, with no minimum spend or penalty for usage below the contracted rate.