Innergex Renewable Energy has commissioned a 50MW/250MWh Salvador battery facility project in Chile.
It is the company’s first utility-scale battery storage site and among the first installed in the country. The project is located on its already existing 68MW Salvador solar facility in the northern region in the Atacama Desert.
“The commissioning of our largest storage facility to date is a significant addition to our portfolio that showcases our commitment to sustained growth and long-term value creation,” Innergex president and chief executive Michel Letellier, was quoted in a statement.
Furthermore, he stated that the project will “enable Innergex to leverage surplus solar production and enhance revenue optimization by aligning with market trends and demand in Chile.”
The facility is fully financed through Innergex’s green bonds issuance.
It comes at a time when the company has regarded battery storage as a very attractive technology for its further growth. It is also considering developing additional renewable energy and complementary battery storage initiatives, the company shared.
According to the company, combined with capacity payments, the Salvador battery facility is likely to generate annual revenues of around US$8.2m (CAN$11.4m) in its first year of operation.