The BESS facility will transfer surplus solar energy produced during the day to provide renewable power during the night. Credit: r.classen / Shutterstock.
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.”
The Arena BESS project is anticipated to provide essential balancing services, which are critical for the further integration of large-scale solar energy projects into the Chilean grid system.
As Chile continues to advance its renewable energy capacity, the BESS will serve as a key component in stabilising the grid and ensuring a consistent supply of clean energy.
CIP associate partner Peter Halmo stated: “Arena BESS marks a significant milestone for the team and the first step in executing CIP’s significant pipeline of renewable projects in Chile.
“The integration of solar projects into the energy system requires BESS projects to shift excess generation from day to night, making the technology essential for Chile to meet its ambitious renewable targets.”
In September 2024, CIP, via its flagship fund CI V, acquired the 255MW/1020MWh Scatter Wash standalone battery storage project in Phoenix, Arizona.
