On October 29, Chinese battery manufacturer Contemporary Amperex Technology Co., Limited (CATL) entered into a significant strategic cooperation agreement with Spanish renewable energy developer Grenergy. According to the agreement, CATL will supply 1.25 GWh of energy storage batteries for Grenergy's Atacama Oasis photovoltaic energy storage project Phase IV in northern Chile. This collaboration is expected to further promote the use of renewable energy and solidify Atacama Oasis's status as the largest energy storage project globally, with the project's total storage capacity anticipated to rise to 11 GWh and solar power generation capacity reaching 2 GW.
CATL's energy storage solution employs its innovative EnerX container, which integrates over 7,100 modules capable of efficiently and safely storing electrical energy at altitudes of 4,000 meters. The system utilizes lithium iron phosphate (LFP) batteries, which provide exceptional energy density and safety, enabling more energy storage in a smaller footprint. David Ruiz de Andrés, Executive Chairman of Grenergy, stated that this partnership is considered a critical milestone for the project, representing a close collaboration with a leading global battery manufacturer and paving the way for new achievements in the renewable energy sector.
The total investment in the Atacama Oasis project in Chile amounts to $2.3 billion, with an expected annual electricity generation of 5.5 terawatt-hours, demonstrating Chile's immense potential in the global renewable energy landscape. Chile not only possesses abundant solar resources but is also enhancing policy support to create a favorable environment for the rapid development of the energy storage market. Currently, Chile is constructing and planning several large-scale photovoltaic energy storage projects, highlighting a promising market outlook.