Chile to hold renewables as well as energy storage auction later on this year

Jan 6, 2022 02:15 PM ET
  • Chile has published details of its latest power auction set to happen later this year that will certainly get 5,250 GWh per year for 15 years.
Chile to hold renewables as well as energy storage auction later on this year
Image: X-Elio

The country's National Energy Commission (CNE) stated it will certainly execute the tender to sustain the government's decarbonisation initiatives and the promotion of renewables and energy storage systems (ESS).

Domestic and also global firms will certainly be able to get involved as well as bid for contracts to provide power from January 2027 to December 2041, CNE claimed.

According to the auction timetable, individuals will certainly have till 17 June to submit bids before champions are announced on 4 July.

Chile's newest power auction happened last September, was eight times oversubscribed and also will see the country assistance 2GW of renewables and also storage projects.

Successful bidders consisted of independent power producers (IPP) Sonnedix and Opdenergy, solar supplier and also project designer Canadian Solar and also Portuguese energy EDP.

That tender gathered average costs of US$ 23.78/ MWh, 27% lower than the country's auction in 2017.

As of November 2021, Chile had simply over 5.8 GW of set up solar PV capacity, the vast bulk of which is released in the north regions of Atacama and Antofagasta, according to figures from the Chilean Association of Renewable Energy and Storage (ACERA).

Chile is targeting a share of 60% of renewables in power generation by 2035 as well as 70% by 2050.

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