Copenhagen Infrastructure Partners acquires FID and begins construction of a 1,100 MWh battery energy storage project in Chile

Project Arena, a 220 MW/1,100 MWh battery energy storage system (BESS), will be one of the first large-scale stand-alone BESS projects in Chile to enter commercial use. Construction on site will begin in the first quarter of 2025, and power delivery is expected to take place in the first quarter of 2026.

COPENHAGEN, Denmark, Oct. 7, 2024 (GLOBE NEWSWIRE) — Copenhagen Infrastructure Partners (CIP), through Growth Markets Fund II (CI GMF II), has made a final investment decision (FID) for a 220 MW/1,100 MWh battery storage system energy in the Antofagasta region in northern Chile. The final notice of commencement of the project has been issued and will be one of the first projects of its kind to achieve commercial operation in Chile.

The Arena BESS facility is strategically located in a region with world-class solar energy resources, adjacent to existing transmission infrastructure and energy-intensive industrial clusters. With a storage capacity of 1,100 MWh, the facility will use excess solar energy generated during the day to provide renewable energy during 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 reduce CO2 emissions and enable further integration of large-scale solar energy projects into the Chilean grid system.

“We are excited to take this important step in implementing the first CIP energy storage project in Chile, which will be one of the largest in the region. With our Growth Markets Fund II, this core investment supports our long-term investment strategy in Latin America,” said Ole Kjems Sørensen, Partner at CIP. “This demonstrates CIP’s industrial approach to identifying market needs and delivering a large-scale project based on a strong contractual framework, while delivering attractive risk-adjusted returns to our investors.”

Peter Halmø, Associate Partner at CIP, said: “The BESS Arena is an important milestone for the team and the first step in CIP’s significant pipeline of renewable energy projects in Chile. Integrating solar projects into the energy system requires BESS projects to shift excess generation from day to night, making this technology essential for Chile to achieve its ambitious renewable energy goals.

About Copenhagen’s infrastructure partners
Founded in 2012, Copenhagen Infrastructure Partners P/S (CIP) is today the world’s largest specialized fund manager for greenfield renewable energy investments and a global leader in offshore wind. Funds managed by CIP focus on investments in offshore and onshore wind, photovoltaics, biomass and energy from waste, transmission and distribution, reserve capacity, storage, advanced bioenergy and Power-to-X.

CIP manages 12 funds and has so far raised around €31 billion for energy and related infrastructure investments from over 180 international institutional investors. CIP employs approximately 500 people and has 14 offices around the world. More information can be found at www.cip.com.