Chile announces $2 billion bidding mechanism for energy storage



Chilean authorities plan to arrange the first procurement for large storage projects in 2024, with the first systems expected to be online in 2026.

Chilean President Gabriel Boric has said that the government is now preparing a bill to establish a bidding mechanism for large energy reserves. The goal of the measure is to maximize the use of renewable energy in the northern part of the country.

Diego Pardow, Chile’s energy minister, has stated that the electricity system needs to be more flexible. He said that the goal is to tender these storage systems by 2024 and to have them operational by the end of 2026. The planned energy storage projects will be located at various sites in northern Chile, where most of the solar and renewable energy power plants are located, requiring a total investment of $2 billion.

Chile currently has 6,950 MW of renewable energy and storage projects under construction, according to the latest data from Chilean renewable energy association Acera. About 68% of them are solar projects and 25% are wind projects.

In addition, 231 MW of storage projects are under construction, 68 MW have been approved and 57 MW are under review. The combined capacity of the solar projects with storage is 2,930 MW.

David is a passionate writer and researcher who specializes in solar energy. He has a strong background in engineering and environmental science, which gives him a deep understanding of the science behind solar power and its benefits. David writes about the latest developments in solar technology and provides practical advice for homeowners and businesses who are interested in switching to solar.

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