Wedoany.com Report-Oct 09, Copenhagen Infrastructure Partners (CIP) has made a final investment decision (FID) on a 220MW battery energy storage system (BESS) in Chile.
The Arena BESS project, located in the Antofagasta region, is set to be one of the first of its kind to commence commercial operations in the country.
The facility is situated in an area known for its good solar resources, adjacent to both existing transmission infrastructure and energy-intensive industrial clusters.
Its strategic location is expected to optimise the utility of the BESS.
Funded through CIP’s Growth Markets Fund 2 (CI GMF 2), the 220MW/1100 megawatt hours (MWh) BESS will play a crucial role in shifting excess solar power generated during the day to supply renewable power during nighttime hours.
CIP partner Ole Kjems Sorensen stated: “We are excited to take this important step in deploying CIP’s first energy storage project in Chile, which will be one of the largest in the region.
“Through our Growth Markets Fund II, this cornerstone investment supports our long-term investment strategy in Latin America.
“It demonstrates CIP’s industrial approach in identifying a market need and delivering a large-scale project with a robust contractual framework, while also securing attractive risk-adjusted returns to our investors.”
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