Innergex Powers Up 50MW Chile Battery Storage

• Chile has it's first utility-scale battery storage facility with Innergex's 50MW/250MWh Salvador battery facility. With daytime energy storage & peak pricing, it will benefit from capacity payments & generate US$8.2m (CAN$11.4m) in its first full yr. Financed via green bonds in 2022.

Innergex Renewable Energy has commissioned its 50MW/250MWh Salvador battery facility in Chile. It is located on the site of the 68MW Salvador solar array in the Atacama Desert and is the first utility-scale battery storage site installed in the country. The facility stores renewable energy produced during the day to be dispatched to evening hours to benefit from peak prices on the merchant market at times of greater demand, enabling the storage facility to avoid daytime congestion and support the grid upon peak energy demand. It will start benefiting from capacity payments by the end of 2023 and is expected to generate annual revenues of approximately US$8.2m (CAN$11.4m) in its first full year of operation. The facility is fully financed through Innergex’s green bonds issuance completed in August 2022.

How Will Innergex's 50MW Salvador Battery Facility Benefit Chile?

• The Salvador facility is expected to help stabilize Chile's grid, reduce emissions, and increase the country's reliance on renewable energy.
• The battery storage facility will allow Innergex to provide Chile with cleaner and more reliable energy during peak hours, avoiding power cuts and blackouts.
• The facility is expected to help reduce electricity prices, as it will reduce the need for Chile to rely on imported electricity and peak power plants, which can be costly.
• The Salvador battery storage facility is expected to improve the efficiency of Chile's energy grid, as its ability to store power will help ensure that energy is not wasted.
• The facility is expected to create jobs in the region, as well as providing economic benefits to the local community.