Does Verano energy have a solar project in Chile?

Latin America-focused renewables company Verano Energy has signed a 15-year power purchase agreement (PPA) to support its 83-MW Domeyko solar project with a 660-MWh battery energy storage system (BESS) in Chile. Don Pedro solar farm in Chile. Image by Verano Energy (handout)

Is Chile ready for a standalone energy storage project?

This project alone nears the capacity (13GWh) the Chilean Ministry of Energy sought in a public land bidding auction for standalone energy storage projects in May of 2024. Chile has been one of the countries at the forefront of the renewable energy transition in Latin America, first with solar PV and now with BESS.

Why is energy storage important in Chile?

Image: Grenergy Grid constraints have prevented Chile from maximising the potential of its world-class solar resources. Energy storage has, therefore, become a necessity to ensure the financial viability of PV projects, writes Jonathan Tourino Jacobo.

What is CVE Chile's battery storage technology?

CVE Chile has launched into battery storage technology. This development aims to optimize the use of photovoltaic production by shifting the electricity generated during the day to peak periods in the evening. This strategy is a response to our customers’ fluctuating energy needs.

What is CVE's vision for solar energy in Chile?

In 2023, the deployment of photovoltaic parks reached 8.5 GW. The country is committed to increasing installed solar capacity to 22 GW by 2029. CVE’s strategy is based on the production of decentralized renewable energies sold through short distribution channels. Chile is a key market for realizing this vision.

Should energy storage be a luxury asset in Chile?

Having energy storage in Chile is no longer a luxury asset but has become an “absolute necessity”, explains Alejandro McDonough, business development manager of Americas area sales at Wärtsilä Energy Storage and Optimisation (Wärtsilä ES&O).