SolarReserve announced it has received approval from the government of Chile to construct a 450-MW solar facility with energy storage.
The Tamarugal Solar Project in the Tarapaca region of Chile will consist of three 150-MW solar thermal towers, each with 13 hours of full-load energy storage and 5.8 GW/h of total energy storage capacity.
“SolarReserve’s proven technology is able to provide non-intermittent electricity from solar energy 24-hours a day, without requiring any fossil fuel,” said Tom Georgis, SolarReserve’s Senior Vice President of Development. “The Tamarugal project will help stabilize and lower electricity costs for Chilean families and businesses, while ensuring energy security for the country.”
SolarReserve will be bidding energy and associated capacity, from Tamarugal and other Chilean projects, into the upcoming international public auction for 24-hour energy supply issued annually by Chile’s power distribution companies.
“What’s happening in Chile is a preview of the future of solar around the world. Even more remarkable than 24-hour a day solar, SolarReserve set a new benchmark for baseload solar pricing by bidding 63 dollars per megawatt hour, without subsidies, in Chile’s most recent auction for energy supply,” said Kevin Smith, SolarReserve’s Chief Executive Officer. “We’ve proven that solar can compete head-to-head with conventional energy on both functionality and cost.”
