Canadian Solar to deliver 912 MWh battery energy storage system
Canadian Solar (NASDAQ: CSIQ) said the project will utilize its e-STORAGE SolBank 3.0 battery energy storage solution, featuring lithium-iron-phosphate battery
Solar arrays at Grenergy's Oasis de Atacama project in Chile. Image: Grenergy Grenergy has raised financing for the fourth phase of a solar-plus-storage project in Chile set to feature 11GWh of battery storage capacity when completed.
In 2022, Chile passed an energy storage and electromobility bill, which made stand-alone storage projects profitable, but the market is still expecting new rules on capacity payment for storage projects, which are to be approved in 2024. Chile has also put in place an auction procedure to award public land for the development of BESS projects.
With transmission lines at overcapacity and permitting delays slowing the development of new grid infrastructure, battery energy storage systems (BESS) have surged as a profitable alternative for Chilean power producers.
According to a December 2023 publication on the InvestChile website, the country had 23 approved energy storage projects with a total of 3,000 MW of capacity. Chile is exploring a variety of solutions to keep abreast of the changing energy demand landscape ranging from BESS to innovative projects using CO2.
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