IPPToday #80: Korean company plans 1GW solar project in Chile
- Andes Green Energy
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Andes Green Energy, the South Korean energy company, is planning a 1GW solar complex in northern Chile, that will combine conventional PV panels and thermal technology that to produce power after sundown.
The Bundang-Gu Calama solar project in the Antofagasta region has a total estimated cost of US$4.5 billion.
The project is in the final phase of environmental approval with construction works scheduled to start in January. Commissioning is expected by 2022.
The total capacity of the solar complex will reach 1 GW, of which, 700 MW will come from standard photovoltaic panels, and the remaining 300 MW coming from solar-thermal technology. The latter technology uses heat from the sun to produce power, and includes a storage system to retain heat to generate electricity at night.
Andes Green Energy has expressed its intentions to sell the project output to mining companies in the region. Korean banks will act as lenders in the project financing.
The company is also seeking to expand its business to Peru, Panama and other parts of South America.
As we reported in February, Chilean government announced 4.2 GW renewables tenders in order to supply the energy needs of the regulated customers of the Interconnected Systems (SIC and SING) from January 1, 2023, for 20 years.
Later on in early October, Chile awarded to Santiago-based power generator Colbun SA a lease for the development of the 607 MW Horizonta wind farm on government-owned land.
The project will be constructed on an 8,000 ha plot of public land, located 70 km northeast from Taltal, Antofagasta region. The investment for the project is estimated to reach around US$971 million.
We have lately informed about other renewable energy projects in Chile:
- 246.6 MW El Romero Solar PV plant
- 607 MW Horizonte wind farm in Taltal
- 3 MW Santa Laura solar PV park in Chile
- 3 MW Amaparo del Sol solar PV project in Chile
- 9 MW Marchigue solar project in O'Higgins
- 48 MW Cerro Pabellón geothermal plant in Atacama Desert