Chile. The country closed the first half of the year with 85 projects planned or under construction, representing a storage capacity of 6.4 gigawatts.
Electrochemical energy storage accounts for 79 projects (total capacity of 4.8 GW), most of which involve systems using lithium-ion batteries.
In addition, there are five projects with a total capacity of 1.6 gigawatts to store energy using a technology based on molten liquid salts. This technology is used in concentrated solar power plants, which have a set of mirrors that direct sunlight towards a receiving tower equipped with photovoltaic modules and filled with molten salts inside. Concentrated sunlight heats molten salt to more than 550 degrees Celsius generating thermal energy that can be used to turn water into steam and subsequently produce electricity.
Finally, one of the 85 projects contemplates the production of green hydrogen in the Magallanes region.
Excess electricity generated during off-peak hours will be used to power electrolysis plants that will split water into oxygen and hydrogen.
National energy production
Most of the announced energy storage projects will help Chile balance its electricity supply in a system where more than half of the electricity generated comes from renewable energy sources (RES).
According to think tank Ember, 24.4% of the country's power generation in 2022 came from hydropower plants, while solar, wind and all other renewable-based generators accounted for 28.6%.
The total share of power plants using coal, gas and fuel oil was 47% in 2022. By the end of 2025, Chile plans to decommission 12 coal-fired power units with a total capacity of 2.66 GW. This will leave only 8 coal-fired power units with a total capacity of 1.66 GW operating across the country.
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