Grenergy has recently unveiled plans for an energy storage project in Chile known as Oasis de Atacama. Grenergy will invest US$1.4 billion in this intitiative, which, once finished, will have a capacity of 4.1 GWh and 1 GW solar. It is expected to come on stream in phases over the next 36 months, helping to improve grid stability and decarbonise the economy.
"Today, Chile is a superpower in terms of the development of energy storage due to the exceptional conditions of the Atacama Desert in terms of hours of solar radiation and the particularity of the energy mix of this vast area, where the penetration of solar energy reaches 50%", said David Ruiz de Andrés, CEO of Grenergy.
Last week, Grenergy announced its first overnight long-term sales contract to supply more than 8 TWh of green energy to the Chilean company EMOAC (a subsidiary of COPEC, the main fuel distribution companies in the country) for a period of 15 years. With this project, it becomes one of the first companies in the world to sign a PPA combining solar energy and storage projects.
To date, the company has closed agreements for the sale of 2.8TWh of energy through PPAs and a value of €2.7 billion in contracted revenues.
For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.
Energy Global's Autumn 2023 issue
The Autumn 2023 issue of Energy Global hosts an array of technical articles focusing on green hydrogen, wind installation technology, blade monitoring solutions, and more. This issue also features a regional report looking at some key renewables projects in Australia..