Copenhagen Infrastructure Partners (CIP) has given the final green light for the construction of the Patache battery project in Chile with a capacity of 300 MW / 1,500 MWh. The decision marks the start of the construction phase and is a key milestone for the project, which is being developed through the Growth Markets Fund II (GMF II). This is stated by CIP in a press release.
The project is located in an area with strong solar resources and close to existing transmission infrastructure. The battery solution will store excess solar energy from daytime hours and provide power during periods of high demand, which can reduce the need for thermal generation and support the integration of more renewable energy.
- Reaching the Final Notice to Proceed for Patache is an important step for the project and for GMF II. It reflects the strength of the underlying conditions, the close collaboration with our contractors and partners, and our continued confidence in Chile as a key market for energy storage and grid infrastructure. We are proud to enter the construction phase and contribute to a more robust and efficient electricity system, says Peter Halmø, Head of Latin America and Managing Director at Copenhagen Infrastructure Partners.
The project has also been approved under an internationally recognized CO2 credit system, which underlines its contribution to Chile's long-term climate goals. The investment has been made together with a group of co-investors with a minority stake.
The project builds on the experience from the Arena BESS project in northern Chile, which with a capacity of 220 MW / 1,100 MWh has already been completed and is supplying power to the electricity grid.
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