AES Andes SA, a Latin American utility has submitted three new solar photovoltaic projects for environmental review in Chile over the last six weeks. If approved, these solar projects could result in a total investment of USD 3 billion (EUR 2.71 billion).
AES Andes Expands Renewable Energy Portfolio
The announcement follows the utility's recent addition of the Oriente Solar project to the environmental permitting process. The environmental impact statement (EIS) for Solar Oriente outlines a major power complex that will include a 581.5-MWp solar photovoltaic plant and a battery energy storage system (BESS) with a capacity of up to 809.2 MW. Located in the Atacama Desert's Pozo Almonte commune, this ambitious project in the Tarapaca region will involve an investment of USD 990 million.
A few weeks ago, AES Andes filed the environmental impact statements (EIS) for the Llanos del Sol project in Pozo Almonte and the Altos del Sol project in the Antofagasta region. The Llanos del Sol project will feature 381.8 MW of solar photovoltaic capacity and a battery energy storage system (BESS) of 531.5 MW with an expected investment of USD 635 million.
In Antofagasta, the Altos del Sol project is set to develop a 763.6-MW solar farm and a 1,063-MW battery energy storage system (BESS) with a planned investment of USD 1.375 billion as detailed in the EIS filing. Together, the three projects will contribute over 1,700 MW of solar capacity and more than 2,400 MW of battery storage to Chile's grid.
“We are proud to announce the entry of new renewable projects into the Environmental Assessment Service with an estimated investment of US$3 billion in such a short period of time. Without a doubt, being able to develop these three major initiatives has been a major challenge for our team of professionals,” said Javier Dib, CEO of AES Andes.
AES Andes Targets 4,000 MW Energy Storage by 2030
The company's ambitious project portfolio reflects its goal to continue leading in battery-based energy storage integration in the coming years. Currently, it holds the largest operating portfolio in Latin America and aims to exceed 1,600 MW by 2027. Additionally, it has 2,400 MW of projects in the environmental approval process planned for development by 2030.
Battery-based energy storage
Since 2018, AES Andes has invested over USD 1.8 billion to cut emissions enabling the addition of 1,163 MW of wind and solar capacity and establishing itself as a leader in battery-based storage systems in Latin America.
In Chile, AES Andes and its subsidiaries manage a total of 3,544 MW which includes 1,645 MW of thermoelectric, 771 MW of hydroelectric, 431 MW of wind, 456 MW of solar photovoltaic and 241 MW of battery energy storage systems as well as seawater desalination plants and transmission lines.
Parque Híbrido Pampas Project Receives Environmental Approval
Last week, the Environmental Assessment Committee (COEVA) of the Antofagasta Region approved the Environmental Impact Study (EIA) for the Parque Híbrido Pampas renewable energy project by AES Andes, an American company. The solar project which will be situated in Taltal involves an investment of USD 800 million.
The project includes both solar and wind power generation with a total capacity of up to 392 MW as well as a battery energy storage system (BESS) with a capacity of 624 MW providing up to five hours of storage.
Dib emphasized that the project demonstrates our company's dedication to advancing renewable energy and reinforces our leadership in Latin America in storage solutions, essential for facilitating an effective energy transition. He also noted that the initiative aligns with the company's Greentegra strategy, aimed at accelerating the shift toward a renewable energy portfolio.