AES Andes submits a new renewable project to SEA and reaches US$3 billion in photovoltaic parks with battery storage

September 8, 2024

• In total, they contemplate an installed capacity of more than 1,700 MW photovoltaic and 2,400 MW of batteries to optimize the use of renewable energies in the SEN.

In the last six weeks, AES Andes has submitted three photovoltaic projects with battery storage systems for environmental processing, which will have a total investment of US$3 billion. These initiatives, located in the regions of Tarapacá and Antofagasta, contemplate an installed capacity of more than 1,700 MW photovoltaic and 2,400 MW of battery-based storage systems, reaffirming the company’s commitment to sustainable generation to accelerate the future of energy in Chile.

The company reached this milestone yesterday with the submission to the Environmental Evaluation Service (SEA) of its Solar Oriente project, which involves an investment of US$990 million for an installed capacity of 581 MW photovoltaic and 809 MW of storage in the commune of Pozo Almonte, Tarapacá Region. This initiative is joined by its two projects submitted during July and August, Altos del Sol, located in the commune and region of Antofagasta, and Llanos del Sol, which will be located in the commune of Pozo Almonte.

“We are proud to announce the submission of new renewable projects to the Environmental Evaluation Service with an estimated investment of US$3 billion in such a short period of time. Undoubtedly, developing these three major initiatives has been a significant challenge for our team of professionals,” said Javier Dib, CEO of AES Andes.

The executive added that “today we are the company with the largest portfolio of renewable projects in the country with their respective Environmental Qualification Resolutions approved or in process. This is a new concrete demonstration of AES Andes’ commitment to continue investing in Chile, innovating, and contributing responsibly to the energy transition the country is experiencing.”

The company expects to continue leading in the integration of battery-based energy storage systems in the coming years. Today, it has the largest operational portfolio in Latin America, aiming to have more than 1,600 MW by 2027, to which the 2,400 MW submitted for environmental processing before 2030 would be added.

About AES ANDES

AES Andes generates and sells energy in Chile, Colombia, and Argentina. The company operates 5,316 MW in South America along with a broad portfolio of renewable energy projects in development. The company is one of the leading generating firms in the region, with a diversified portfolio that includes hydroelectric, wind, solar, energy storage, natural gas, and coal plants.

In Chile, AES Andes and its subsidiaries own and operate 3,544 MW, composed of 1,645 MW thermoelectric, 771 MW hydroelectric, 431 MW wind, 456 MW solar photovoltaic, and 241 MW of battery energy storage systems, in addition to seawater desalination plants and transmission lines.

Since the launch of the transformational Greentegra strategy (2018), AES Andes has taken substantial steps to reduce the emission intensity of its portfolio, with investments of more than US$1.8 billion that have allowed the incorporation of 1,163 MW of wind and solar capacity, becoming the leader in Latin America in battery-based storage systems.

In Chile, it has initiatives under construction for 767 MW of renewable capacity, in addition to a contracted project portfolio of more than 1,400 MW in development, all with an investment of over US$1.9 billion between 2024 and 2027.