Chile: Mining company Codelco signs ’24/7 solar-plus-battery’ power purchase agreement

By Will Norman
LinkedIn
Twitter
Reddit
Facebook
Email

Atlas Renewable Energy has signed a power purchase agreement (PPA) with Chilean state-owned mining company Codelco to deliver 375GWh a year from a solar-plus-storage project in Chile.

The PPA is a 24/7 supply agreement, using battery energy storage to deliver power around the clock over a 15-year period.

Atlas was awarded the contract after winning a public tender issued by Codelco. Neither company disclosed the nameplate generation or energy storage capacity of the project, or its name or location. PV Tech has contacted them for clarification.

“With this project, we formally announce our entry into battery storage technology. We see this as an essential element to materially amplify the volume of renewable energy sources in the power system,” said Carlos Barrera, CEO of Atlas Renewable Energy.

This article requires Premium SubscriptionBasic (FREE) Subscription

Enjoy 12 months of exclusive analysis

Not ready to commit yet?
  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Annual digital subscription to the PV Tech Power journal
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Chile is being seen as a fertile market for energy storage, partly off the back of its rapidly growing market for renewables, particularly solar PV. Other recent developments include the Oasis de Atacama project, which will pair 1GW of solar PV and what could be the largest battery energy storage system (BESS) in the world at 4.1GWh capacity.

Developer Grenergy is behind the project, with PCS technology to be supplied by inverter maker Ingeteam, while Oasis de Atacama is among many energy storage projects underway in the country.

Many of Atlas’ solar operations are concentrated in Latin America, and the company has signed a plethora of PPAs in the region. In March 2022, it began commercial operations at a 244MWp solar PV plant in Antofagasta, Chile under a 15-year PPA with Engie Energía Chile.

Brazil, in particular, has been a target market for Atlas. In November 2023 it secured US$448 million from the Brazilian Development Bank towards a 902MWp project in the southeastern state of Minas Gerais – the ‘largest’ single-phase solar PV project in the country. In the preceding April, it signed a corporate PPA with Brazil’s largest aluminium producer for the entire 902MWp capacity.

In September of the same year, it inaugurated 600MW of solar PV capacity in Minas Gerais, spread across two projects, each with corporate PPAs in place.  

In October 2022, Atlas was acquired by fund manager Global Infrastructure Partners (GIP) and private equity firm Actis for an undisclosed amount.

This story first appeared on PV Tech.

Additional reporting for Energy-Storage.news by Andy Colthorpe.

14 October 2025
InterContinental, Santiago, Chile
We are excited to bring the industry together for the fourth edition of the Energy Storage Summit Latin America on 14-15 October in Santiago, Chile. The Summit has become a meeting place for IPPs and developers, investors, financiers and banks, utilities, consultancies, software providers, and manufacturers who are setting high standards in the Latin American energy storage sector.

Read Next

September 4, 2025
Argentina has awarded 667MW of battery energy storage system (BESS) in its first tender under the AlmaGBA scheme.
Premium
September 4, 2025
The Governor of Washington State has delayed issuing final approval of a hybrid BESS facility under development by Cypress Creek Renewables.
September 3, 2025
Chile is leading Latin America’s wave of energy storage adoption, closely linked to its embrace of solar PV.
September 1, 2025
Bahraini, Chinese, Egyptian and Emirati groups have agreed to develop a new manufacturing facility in Egypt.
September 1, 2025
Renewable energy solutions provider Sunsure Energy claims to have signed India’s first-ever fixed tariff battery storage offtake contract.

Most Popular

Email Newsletter