The Chilean National Energy Commission (CNE) authorized Korkia, a Helsinki-based international renewable energy developer and investor, to proceed with the construction of the Terrazas hybrid project in the Coquimbo region. The 280 MW solar PV and 1,240 MWh battery storage facility will connect to Chile's national grid via a new 220 kV substation near Ovalle, enabling energy dispatch during peak demand hours. Scheduled for commercial operation by late 2027, the project is designed to supply electricity to approximately 150,000 Chilean households annually while supporting mining operations in northern Chile through its strategic location. Korkia's global portfolio includes 15 GW of mature renewable projects and 9 GW in early development across solar, wind, and storage technologies. The authorization follows Korkia's recent environmental approval for a 150 MW storage system in Chile and connection permits secured in Europe during 2026.