Revenue streams

Atlas Renewable garners $289 million for battery energy storage in Chile

Financing for the battery energy storage system (BESS) del Desierto project in Chile involves agreements with BNP Paribas and Crédit Agricole CIB with a $219 million loan and US$70 million in other credit lines. The fresh capital should finance the construction of the 200 MW / 800 MWh system, located in the commune of María Elena, Antofagasta region.

By

Luis Ini

Aug 15, 2024

Atlas Renewables stated the agreement was reached “in record time”. The financing agreements will enable the construction of the BESS del Desierto, which the company says is one of the largest energy storage projects in the country and in Latin America. The project entails an installed capacity of 200 MW, four hours of discharge, and a storage capacity of 800 MWh located in the commune of María Elena, Antofagasta region.

The project will supply energy to EMOAC, following an important agreement signed between COPEC’s energy trading subsidiary and Atlas concluded last March with a 15-year power purchase agreement (PPA) between Atlas and the Chilean company COPEC, through its energy trader EMOAC.

In June 2024, Atlas was responsible for one of three announcements for separate large-scale battery energy storage (BESS) projects collocated with solar farms in Chile.

Written by

Luis Ini
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