Canadian Solar was awarded a 253-megawatt solar plus 1,000-megawatt battery energy storage project in a public tender held by Chile's Energy National Commission (CNE) in July.
The Zaldivar Project, located in Antofagasta Region, is currently at mid-stage development. The project is expected to start construction in 2024 and reach commercial operation in 2026. Once in operation, part of the electricity generated by solar will be purchased by a pool of distribution companies under 15-year U.S. dollar-dominated power-purchase agreements, and the remaining will be purchased by private energy off-takers.
The CNE awarded a total of 777 gigawatt-hours per year of new generation, backed by three different new renewable projects, of which the Zaldivar Project will account for 16 percent.
Canadian Solar said the Zaldivar Project will contribute to Chile's carbon emissions reduction targets, while improving the reliability of the local grid. It is expected to displace more