Deals Counterparts

ACCIONA Energía and CATL partner on 1 GWh battery supply for Malgarida PV project in Chile

Supply Agreement SolarStorageBattery Storage signed Chile
238 MW
Capacity
construction
Stage
Malgarida
Project

ACCIONA Energía has signed an agreement with CATL for the supply of 1 GWh of battery capacity for its 238 MWp Malgarida photovoltaic park in the Atacama Desert, Chile. CATL will provide its latest generation batteries, which are the first of their kind to be installed in Latin America. The battery storage project (BESS) is under construction and is expected to be operational by early 2027. The project will enable ACCIONA Energía to store and dispatch solar energy during nighttime hours, reducing reliance on fossil fuels.

Deal Analysis

ACCIONA Energía's agreement with CATL for a 1 GWh battery supply for the Malgarida photovoltaic park in Chile represents a significant step towards enhancing the reliability and dispatchability of solar energy in the region. The integration of CATL's latest generation batteries, the first of their kind in Latin America, will enable ACCIONA Energía to store and dispatch solar energy during nighttime hours, reducing reliance on fossil fuels and contributing to a more sustainable energy mix. This battery storage project (BESS), co-located with the 238 MWp Malgarida solar park, is currently under construction and expected to be operational by early 2027. This deal is notable for its scale, involving a substantial 1 GWh battery capacity, and the participation of two industry leaders: ACCIONA Energía, a prominent renewable energy developer, and CATL, a global leader in lithium-ion battery technology. The project underscores the growing importance of battery storage in supporting the integration of variable renewable energy sources like solar power. While the financial terms of the agreement were not disclosed, the investment signals a strong commitment to advancing energy storage solutions in South America.
  • 1 GWh battery supply agreement between ACCIONA Energía and CATL.
  • CATL's latest generation batteries will be the first of their kind installed in Latin America.
  • The battery storage project will support the 238 MWp Malgarida photovoltaic park in Chile.
  • The project is expected to be operational by early 2027.
Market Context: The market for renewable energy and energy storage is rapidly expanding in South America, driven by increasing demand for clean energy and supportive government policies. Chile, in particular, has emerged as a leader in renewable energy development, with abundant solar resources and a commitment to decarbonizing its energy sector. Battery storage is becoming increasingly crucial for addressing the intermittency challenges associated with solar and wind power, enabling a more reliable and resilient energy grid.

Market Context

This deal is part of the Solar, Storage, Battery Storage sector in Chile.
581
Solar deals
17
deals in Chile
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