The project has received final notice for its execution and will be one of the first projects of this type to reach commercial operations in Chile, the company explained on Monday.

Copenhagen Infrastructure Partners (CIP), through its Growth Markets Fund II (CI GMF II), has made the final investment decision (FID) on a 220 MW/1,100 MWh battery energy storage system in the Antofagasta region of northern Chile.

The project has received final notice for its execution and will be one of the first projects of this type to reach commercial operations in Chile, the company explained on Monday.

The Arena facility (BESS) is strategically located in a region with one of the best solar resources in the world and adjacent to existing transmission infrastructure and energy-intensive industrial clusters.

With a storage capacity of 1,100 MWh, the facility will transfer excess solar energy generated during the day to supply renewable energy during nighttime hours, thereby reducing the need to generate energy from fossil fuels during periods of peak demand.

Arena will contribute to reducing CO2 emissions and enable greater integration of large-scale solar energy projects into the Chilean electricity grid.

CIP partner Ole Kjems Sorensen said they are “excited” to take this important step in the deployment of CIP’s first energy storage project in Chile, which will be one of the largest in the region.

"Through our Growth Markets Fund II, this investment is the cornerstone of our long-term investment strategy in South America," he said.

Peter Halmo, CIP Associate Partner, said that Arena marks an important milestone for the team and the first step in the execution of CIP's significant portfolio of renewable projects in Chile.