EV and BESS company BYD will supply its product for a project from Grenergy in Chile which has been claimed as the largest energy storage project in the world. Independent power producer (IPP) Grenergy and BYD have signed a strategic agreement for the supply of 1.1GWh of battery energy storage syste Contact online >>
EV and BESS company BYD will supply its product for a project from Grenergy in Chile which has been claimed as the largest energy storage project in the world. Independent power producer (IPP) Grenergy and BYD have signed a strategic agreement for the supply of 1.1GWh of battery energy storage systems (BESS) for the Oasis de Atacama project in
Chile is now on track to become the second-largest battery market in the Americas, following the United States. As of this year, the Latin American nation has switched on 12 storage projects,...
The potential for the sector in Chile is very, very high.". Battery costs have fallen by 90% in the last 15 years, and the cost of utility-scale storage projects is projected to fall by 40% by 2030, according to a recent International Energy Agency report.
Copenhagen Infrastructure Partners (CIP) has reached final investment decision on a 220MW/1,100MWh battery energy storage system (BESS) project in Antofagasta, Chile. Construction of the standalone project is expected to start in the first quarter of 2025 and powered as soon as Q1 2026, and will be one of the first projects of its kind to reach
In Chile''s Salar de Atacama, near the border with Argentina and Bolivia, close to one-third of the world''s lithium is produced from brines. But South America''s fifth most-populous country is
Chile is now on track to become the second-largest battery market in the Americas, following the United States. As of this year, the Latin American nation has switched on 12 storage projects, with a total capacity of 1.3 GW. It currently has 85 energy storage projects, totaling 6.4 GW, in various stages of development.
The United States has historically held the position of being the largest energy storage market in the Americas, with anticipated deployment of more than 10 GW in 2023. However, countries such Canada, Mexico, and Chile are actively promoting policies to stimulate energy storage development, positioning Chile to become the second-largest energy storage market in the Americas, as projected by UK consultancy Interact Analysis.
While the first electrochemical energy storage projects in Chile made their debut in 2009 and only amounted to around 300 MW by 2022, Chile''s parliament passed legislation in October 2022 to incentivize energy storage and electric mobility development. Furthermore, the government has set an ambitious target of achieving 70% of total energy consumption from renewable sources by 2030.
Consequently, Chile has witnessed a surge in renewable energy generation installations in recent years, creating a pressing demand for energy storage. This summer, $2 billion was allocated for large-scale storage auctions.
In 2023, twelve projects with a combined capacity of approximately 1.3 GW are slated to become operational, with an additional 1 GW planned for installation annually from 2024 to 2026. As of August 2023, Chile has 85 energy storage projects in various stages of development, totaling 6.4 GW.
Among these projects, 60 are in the construction and planning phase, with a collective capacity of about 4.7 GW. Of these, 51 projects are expected to commence operations between 2024 and 2026, with a total capacity of around 3.9 GW.
Electrochemical storage predominates in Chile, accounting for 79 projects with a cumulative capacity of 4.8 GW. These projects primarily focus on large-scale front-of-meter integration of renewable energy, with lithium-ion battery storage serving as the dominant technology. Notably, 31 out of the 79 projects have a continuous discharge duration ranging from 3 to 6 hours, with an average duration exceeding 5 hours.
Additionally, the country hosts five molten salt thermal storage projects, collectively offering 1.6 GW in capacity. Furthermore, a hydrogen energy storage project, developed by HIF Chile, is in the planning stages within the Magallanes-Chile Antarctic Region.
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Copenhagen Infrastructure Partners (CIP) has reached final investment decision on a 220MW/1,100MWh battery energy storage system (BESS) project in Antofagasta, Chile.
Construction of the standalone project is expected to start in the first quarter of 2025 and powered as soon as Q1 2026, and will be one of the first projects of its kind to reach commercial operations in Chile, according to CIP.
As frequent readers of Energy-storage.news might know, the majority of BESS projects built and in construction in Chile are paired with a solar PV project. Although a standalone project, the Arena BESS facility is still located in the northern region of Chile, where most of the solar PV capacity is located, due to its high irradiation levels.
Its proximity to solar resources and being adjacent to existing transmission infrastructure, will allow the project to provide balancing services and shift excess solar power generation during the day to supply renewable energy power during the night hours.
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