Highview Power, prominent in long duration energy storage solutions, has entered into a joint venture agreement with Energía Latina S.A.-Enlasa, the largest backup power generation provider in Chile, to co-develop giga-scale cryogenic energy storage projects in Chile and other Latin American markets.
Javier Cavada, CEO and president of Highview Power said: “Together, our two companies can harness the growing deployment of renewables in Chile and across Latin America and bring renewable baseload power to the region, all without the geographic constraints associated with other energy storage technologies.”
The joint venture, named Highview Enlasa, is expected to help to open Latin American energy markets to baseload renewable energy potential. Highview Power’s long duration energy storage system, paired with renewable energy sources, are said to be equivalent in performance to thermal and nuclear power.
Chile has one of the highest solar irradiation levels in the world and the deployment of solar power together with the national decarbonisation strategy require long duration energy storage to provide the needed energy balance to achieve a sustainable grid. Other Latin America markets have similar initiatives, and a CRYOBattery plant in Chile is expected to serve as a great business case for the region.