The project, designed to stabilise Chile’s energy grid and reduce renewable energy curtailment, is expected to inject 280 GWh of electricity into the grid annually. Its completion will not only bolster grid reliability, but also help cut carbon emissions in a region grappling with intermittent renewable energy supplies.

DNV played a central role in the financing process by conducting due diligence on market conditions and assessing the risks of a long-term energy purchase agreement. The consultancy also performed an optimisation of the battery system and dispatch analysis, helping to secure investment from global financial institutions. DNV’s expertise enabled Atlas to accelerate the development of their battery storage project and strengthen their market position as a pioneer in standalone energy storage, helping the company advance their position in Latin America as a major provider of clean energy solutions for large energy consumers in the region.

Marian van den Berg, Senior Project Consultant, Energy Systems at DNV, said: “This project highlights our expertise in market due diligence for energy storage and marks a key development for Chile’s energy market. Our rigorous market analysis and risk assessment were pivotal in securing investor confidence, demonstrating that standalone battery storage is a sound investment proposition in Latin America.”

Santiago Blanco, Executive Vice-president and Regional Director for Latin America, Energy Systems at DNV, added: “The battery storage system del Desierto will set a new benchmark for energy storage projects in the region. This development will help address some of Chile’s most pressing energy challenges while paving the way for future investments in sustainable energy. DNV’s contribution was invaluable in securing the financing necessary to bring this project to life.”

For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.

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Dive into the latest renewable energy insights in the Autumn issue of Energy Global, out now! The issue starts with an insightful guest comment from Cristiano Spillati, Managing Director at Limes Renewable Energy where he discusses the need for European renewable energy suppliers to accelerate the rate of the energy transition. This is followed by a regional report from Cornwall Insights on the battery energy storage industry in Australia. This issue explores key topics including offshore wind subsea cables, offshore wind support vessels, digitalisation, wind turbine components, and more!

Read the article online at: https://www.energyglobal.com/energy-storage/17102024/dnv-supports-atlas-renewable-energy-with-chile-bess-financing/