Battery Energy Storage Systems (BESS) in Chile
The anticipation of the capacity market, the high energy spreads, and the lack of an ancillary services market in Chile has led project owners to develop large projects (100MWh+) with
According to data from Acera, the Chilean Renewable Energy Association, there are only 64MW of battery storage capacity currently active, representing 0.2% of national capacity. AES Andes, a subsidiary of U.S. company AES Corp. operates all 64MW at their Angamos and Los Andes substations.
While many projects are under development, lithium - ion battery storage is still limited. According to data from Acera, the Chilean Renewable Energy Association, there are only 64MW of battery storage capacity currently active, representing 0.2% of national capacity.
In 2022, Chile passed an energy storage and electromobility bill, which made stand-alone storage projects profitable, but the market is still expecting new rules on capacity payment for storage projects, which are to be approved in 2024. Chile has also put in place an auction procedure to award public land for the development of BESS projects.
Currently, 36 of the 129 large-scale projects Latin America projects with an energy storage component under development are in Chile, including 32 out of 71 of the region's early works projects. The storage technologies either in use or being considered include:
The anticipation of the capacity market, the high energy spreads, and the lack of an ancillary services market in Chile has led project owners to develop large projects (100MWh+) with
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The anticipation of the capacity market, the high energy spreads,
Fitch Ratings-Sao Paulo/New York-01 April 2025: Project finance transactions in Chile are expected to increase due to the recent commissioning of large battery energy storage systems
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