The Energy Storage Report 2024

Now available to download, covering deployments, technology, policy and finance in the energy storage market

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.

This article requires Premium SubscriptionBasic (FREE) Subscription

Enjoy 12 months of exclusive analysis

  • 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

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.

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.

Read Next

Premium
April 16, 2024
The spinout and change in ownership of Mitsubishi Power Americas’ energy storage activities into standalone unit Prevalon will make it as ‘nimble and fast-moving as possible’, its CEO said, while not ‘chasing market share for the sake of market share’.
Premium
April 16, 2024
Energy-Storage.news Premium speaks with Warwick Johnston, founder of solar energy consultants Sunwiz, on Australia’s distributed battery storage market dynamics.
April 12, 2024
Battery energy storage system (BESS) integrator Fluence will provide 35MW/100MWh of its technology to utility and IPP Engie for a project in the Netherlands.
April 11, 2024
Minnesota-based independent power producer (IPP) Lydian Energy has made its official launch with a portfolio of 1.75GW of solar and battery storage projects in the US.
April 11, 2024
Global utility and IPP Engie will build a 116MW/660MWh battery energy storage system (BESS) at the former site of a coal plant it operated in Chile.

Most Popular

Email Newsletter