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.
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.
In March 2024, BESS Coya, the largest battery-based energy storage system in Latin America, started operations. The facility is located in the Antofagasta region and has a storage capacity of 638 MWh, with 139 MW of installed capacity. The project utilizes lithium-ion batteries and stores the energy generated by the 180-MW Coya photovoltaic plant.
In addition, there are two fundamental reasons to consider lithium as a strategic material for Chile. The first is that lithium, in addition to its traditional uses from the last century, has become an essential energy material since the 21st century.
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Chile is a key player in the global transition to electric vehicles, holding 31% of the world’s lithium reserves and supplying more than 20% of global lithium production. …
The project utilizes lithium-ion batteries and stores the energy generated by the 180-MW Coya photovoltaic plant. According to the Chile government website, BESS Coya has an …
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Chile is rapidly moving to build more power generation capacity, with much of that effort focused on renewable energy resources and battery energy storage systems (BESS). …
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Lithium batteries have been proven to meet these requirements. 2 This has made lithium a key element, putting pressure on countries with abundant reserves of the element. In …
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