Chile. The first two phases of Oasis de Atacama, the largest solar energy and storage project in Latin America, have already entered operation in the Antofagasta Region of Chile.
In this initial stage , 221 megawatts (MW) of solar panels were installed, along with a 1.2 gigawatt-hour (GWh) battery system, capable of supplying power for 6.2 hours.
The project is being developed by ContourGlobal, a subsidiary of investment fund KKR, which acquired the first three phases of Oasis de Atacama from Grenergy, an independent power producer based in Spain.
The third phase, which will add an additional 231 MW of solar capacity and 1.3 GWh of storage, is expected to be fully operational in the second half of 2025. Once completed in its seven stages, the complex will reach a total capacity of 2 gigawatts (GW) of solar generation and 11 GWh of battery storage.
The impetus for these developments responds to the growing challenges in the Chilean energy system, such as grid overload and restrictions on power generation. In 2024, solar and wind production fell by 6 terawatt-hours (TWh), double the reduction recorded the previous year. In this context, the expansion of storage systems is emerging as a key solution to guarantee electricity supply.
At the same time, other actors are also committed to alternative energy projects. Atlas Renewable Energy signed a long-term agreement with Chilean company Colbún to implement an off-grid battery storage system in the Antofagasta Region. This project, with a capacity of 230 MW and 920 megawatt-hours (MWh) of storage, is designed to operate for four hours and is projected to be commissioned in 2027.
Experts warn that the joint development of solar generation and storage is vital for Chile, given the increase in production and the limited capacity of the grid. However, they highlight that the lack of a robust regulatory framework and efficient financial mechanisms slows down the progress of the sector.
The main solar and storage projects are concentrated in the Antofagasta Region, in the heart of the Atacama Desert, one of the driest and sunniest areas in the world. With some of the highest levels of solar radiation on the planet, the area is ideal for this type of initiative, as well as being a strategic center for Chilean mining.
