AES Andes obtains environmental approval for its Cristales project

March 27, 2024

• The photovoltaic park will inject up to 340 MW into the National Electric System from solar energy and up to 542 MW for 5 hours from its battery storage system.
• The project involves an investment of up to US$ 710 million.

Antofagasta, March 27, 2024 - AES Andes achieved a new milestone in its Greentegra strategy by obtaining environmental approval for its Cristales photovoltaic project of up to 340 MW and an energy storage system (BESS) of up to 542 MW for 5 hours.

The initiative, located in the commune of Antofagasta, approximately 220 km east of the regional capital, was approved unanimously by the members of the Environmental Evaluation Commission.

"The approval of this project allows us to continue accelerating the future of Chile's energy through new renewable projects, reinforcing AES's leadership in the sustainable energy transition process," highlighted Javier Dib, CEO of AES Andes.

The executive added that "for the company, it is a pride to continue consolidating investments in innovative solutions, such as energy storage systems, which allow us to inject the energy produced during the day at night, thus avoiding spills or waste of renewable energies."

The project, which involves an investment of up to US$ 710 million, also includes an electrical substation (Cristales S/E) and a 220 kV high-voltage transmission line to evacuate the generated energy.

Construction works are estimated to begin during the fourth quarter of 2024, with commercial operation expected to start in 2028.

About AES ANDES

AES Andes generates and sells power in Chile, Colombia and Argentina. The company operates 5,511 MW in South America and has a large portfolio of renewable energy projects under development. The company is one of the region's leading power generation companies, with a diversified portfolio that includes hydro, wind, solar, energy storage, natural gas and coal.

In Chile, AES Andes and its subsidiaries own and operate 3,739 MW, including 1,921 MW of thermoelectric, 771 MW of hydroelectric, 370 MW of wind, 442 MW of solar photovoltaic, and 236 MW of battery energy storage, as well as desalination plants and transmission lines.