Copenhagen Infrastructure Partners (CIP), through its Growth Markets Fund II (CI GMF II), has made a final investment decision on a 220 MW/1,100 MWh battery energy storage system (BESS) located in the Antofagasta Region of northern Chile. The project has officially moved to the construction phase and is one of the earliest projects of its kind to move to this stage.
With a storage capacity of 1,100 MWh, the Arena BESS will store surplus solar energy generated during the day, allowing it to provide renewable electricity during night-time peak demand periods. This will reduce reliance on fossil fuel power generation, cut carbon emissions, and support the integration of large-scale solar projects into Chile’s grid.
Earlier in 2024, Copenhagen Infrastructure Partner’s flagship fund, CI V, acquired the 255 MW/1,020 MWh Scatter Wash standalone battery energy storage system (BESS) project from Strata Clean Energy. Located in Phoenix, Arizona, the project commenced construction in early 2024 and is anticipated to begin commercial operations by mid-2025.
REGlobal’s Views: Chile has immense untapped potential for development of new large-scale renewable energy projects and the country has witnessed a slew of investments in the clean energy space. The growing renewable energy penetration in the grid will require energy storage for grid management and balancing of energy supply, which has led to increasing investor appetite for storage projects in the nation.
