(Highview Power, 25.Oct.2020) — Highview Power, a global leader in long duration energy storage solutions, 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.
The joint venture, named Highview Enlasa, will 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 equivalent in performance to thermal and nuclear power. CRYOBatteries are developed using proven components from mature industries, it delivers pumped-hydro capabilities without geographical constraints and can be configured to convert waste heat and cold to power.
“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,” said Javier Cavada, CEO and President of Highview Power.
“Enlasa is very committed to sustainability and through our partnership with Highview Power we are on the leading edge of providing innovative energy storage solutions to Latin America,” said Rodrigo Sáez, CEO of Enlasa “Highview Power’s cryogenic technology is the optimal solution to provide the large scale, long duration energy storage that is needed to balance the grid as more solar and wind power come online.”
Chile has one of the best solar irradiations of the world and the deployment of solar power together with the national decarbonization 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 will serve as a great business case for the region.