Chile’s Oasis de Atacama storage project expands to 11 GWh

The world’s biggest battery storage project has got bigger with the announcement from Spanish developer Grenergy of plans to increase the project’s storage capacity from 4.1 GWh to 11 GWh.

This was made possible through the acquisition of a solar portfolio of 1 GW, along with a 1 GW energized line, from the joint venture created in 2020 by Repsol and Iberéolica. The transaction will amount to $128 million.

The portfolio consists of a 77 MW solar project plus other PV projects in different stages of development and totaling 923 MW of generation capacity. In addition, the project currently has a 1 GW interconnection line built and energized, which will facilitate the connection of the projects under development.

David Ruiz de Andrés, executive chairman of Grenergy, said: “This is just the first step of what is to come. Battery investments are going to multiply globally and this project will allow us to be a benchmark in the sector.”

Construction on the project began in November 2023.  The first phase of Oasis de Atacama is scheduled to be connected by the end of 2024 with the new phases due to be completed in 2025. Grenergy has already agreed to sell the energy from the first four phases of the project and the rest of them, according to the company, are in advanced negotiation phases.

Ingeteam will supply inverters and transformer centres to the Chilean Oasis de Atacama project. For the supply of large-scale storage systems,  the company has signed a strategic agreement with BYD, totalling 3 GWh and covering the first three phases of the project. The deal represents the largest supply agreement to date for the Chinese multinational.

In July, Grenergy announced the financial close of the first two phases of the Oasis de Atacama project for $345 million with the financial institutions BNP Paribas, Natixis, Societe Generale, The Bank of Nova Scotia. and SMBC.

From pv magazine LatAm.