Copenhagen Infrastructure Partners commences construction of the first large-scale battery energy storage project in Chile
07:59 | 12/10/2024
The Arena BESS facility is strategically located in a region with world-class solar resources and adjacent to existing transmission infrastructure and energy-intensive industrial clusters. With a storage capacity of 1,100 MWh, the facility will shift excess solar power generated during the day to supply renewable power during the night hours, thereby reducing the need for fossil fuel power generation during periods of peak demand. The balancing services provided by the Arena BESS project will decrease CO2 emissions and enable further integration of large-scale solar energy projects into the Chilean grid system.
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| A PV project developed by CIP. |
“We are excited to take this important step in deploying CIP’s first energy storage project in Chile, which will be one of the largest in the region. Through our Growth Markets Fund II, this cornerstone investment supports our long-term investment strategy in Latin America,” said Ole Kjems Sørensen, partner at CIP. “It demonstrates CIP’s industrial approach in identifying a market need and delivering a large-scale project with a robust contractual framework, while also securing attractive risk-adjusted returns to our investors.”
In Vietnam, CIP entered the market in early 2019 and is currently developing the La Gan offshore wind project in Binh Thuan province, which has a total capacity of 3.5 GW. Some other offshore wind projects, with a total capacity of over 10GW, are also in the early stages of development.
About Copenhagen Infrastructure Partners
Founded in 2012, Copenhagen Infrastructure Partners (CIP) today is the world’s largest dedicated fund manager within greenfield renewable energy investments and a global leader in offshore wind. The funds managed by CIP focus on investments in offshore and onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, reserve capacity, storage, advanced bioenergy, and Power-to-X (batteries, ammonia, green hydrogen, etc.).
CIP manages 12 funds and has raised approximately USD 30 billion for energy investments and has established a market-leading renewables pipeline of approximately 120GW of energy projects across technologies and geographies. Almost half of this renewable energy portfolio (over 60GW) constitutes offshore wind.
