Atlas Renewable Energy has closed one of its largest financing deals ever, securing a US$510 million investment for the development of a hybrid solar and battery storage project in the Antofagasta region of Chile.
Clean energy with the Estepa project
This project, called Estepa, is an advanced clean energy solution that will combine a 215 MW solar photovoltaic plant with a 418 MW battery energy storage system (BESS). It is estimated to generate around 600 GWh of energy annually, ensuring a constant supply of clean energy, even during periods without sunlight .
The agreement was supported by two long-term power purchase agreements signed with Codelco and Colbún, two of the leading companies in the Chilean mining and energy sector. These agreements ensure the project’s economic viability and consolidate Atlas as a strategic partner in the nation’s energy transition.
Solar project in Chile with advanced technology
The success of this financing reflects our ability to develop complex, large-scale projects and our competitiveness in the renewable energy sector.
Alfredo Solar, Atlas Regional Manager for Chile and the Southern Cone, said:
He also highlighted that this project positions Atlas as a leader in technological innovation for the integration of advanced storage with renewable energy , adapting to changes in the electricity market in the region.
The project is expected to enter commercial operation by the end of 2026, marking a milestone in the promotion of solar photovoltaic energy in Chile and consolidating Atlas’ position in the Latin American market.
This financing is in addition to the agreement reached five months ago to supply 450 GWh annually from another hybrid project, Copiapó, to Grupo CAP, one of the largest players in Chilean mining.
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Source and photo: Atlas Renewable Energy
