Canadian Solar was behind Zabaleri, which won the winning bid in Chile’s July auction with 253MWp of solar PV and 1GWh of battery storage.
While a total of 15 companies were selected to bid, only two companies won their bids with a total supply of 777 GWh, at an average price of US$37.38/MWh, which is only 14.8% of the 5,250 Initial GWh. Auctioned.
One of them was Zabaleri, while the other successful bidder was Spanish developer Photovadio Renewable Ventures and its Chilean subsidiary.
Latin America-focused energy portal Energia Estratégica revealed Canadian Solar was behind Zabaleri ahead of the auction last July, but the developer made no announcement at the time. But a recent press release revealed that Canadian Solar was in fact behind the offer.
The developer provided more details about the “Saldivar” project located in the Antofagasta area.
The solar plus storage project is currently in mid-development with construction expected to begin in 2024 and operational in 2026.
In addition, a portion of the power generated will be purchased by distribution companies under a 15-year Power Purchase Agreement (PPA), while the rest will be purchased by private power buyers.
Canadian Solar currently has 600MWp of solar PV projects in Chile and 2.2GWh of battery storage projects, said Shawn Cue, president and CEO of Canadian Solar.
“Chile is one of the most promising renewable markets in Latin America,” added Qu.
Between July 2020 and June 2021, the developer had more than 23.5 GW of PV projects in the pipeline, according to data from Mercom Capital Group, trailing only Lightsource bp when it comes to the top 10 global PV developers. A third of the Canadian solar portfolio is in Latin America, which tops the list of regions with the most solar developments.
PV Tech will take a closer look at the future of solar energy in Chile in the upcoming September issue of PV Tech Power (number 32). Previous editions of the magazine can be subscribed and accessed here.