AES Andes begins commercial operation of Andes Solar IV and confirms its leadership in battery storage in Latin America

This is a machine translation of the original release issued in Spanish.

PRESS RELEASE from AES Andes
October 22, 2024

SANTIAGO, October 22, 2024.- In a new step in the execution of its strategy, AES Andes announced today the entry into commercial operation of Andes Solar IV, a park located 230 kilometers east of Antofagasta, in the heart of the Atacama Desert, and which is part of its solar hub in the region.

With this milestone, a capacity of 211 MW of photovoltaic panels and 130 MW of energy storage for 5 hours based on lithium batteries is added, becoming the hub with the largest operational battery system in Latin America.

This technology is, without a doubt, one of the essential solutions to alleviate transmission congestion in the National Electric System, by allowing solar energy to be stored during the day and injected into the system at night during peak demand hours.

“The entry into commercial operation of Andes Solar IV is a source of pride for the company and shows that we continue to be the undisputed leader in battery-based storage systems. We were pioneers in Chile in implementing this technology and today our renewable hub in Antofagasta has the largest system in Latin America, combining 667 MW of solar with 259 MW of batteries,” said Javier Dib, CEO of AES Andes.

Dib added that “our investment plan includes having more than 1,600 MW of batteries operational by 2027 in Chile. This is a concrete example of AES Andes’ commitment to continue investing in the country, innovating and contributing responsibly to the energy transition.” Since the launch of its strategy in 2018, AES Andes has taken substantial steps to reduce the emissions intensity of its portfolio, with investments of more than US$1.8 billion that have allowed it to incorporate 1,504 MW of wind and solar capacity and to be the leader in Latin America in battery-based storage systems.

In Chile, it has projects under construction for 572 MW of renewable capacity, in addition to a portfolio of projects in an advanced stage of development with more than 1,300 MW, all with an investment of more than US$1.9 billion to be made between 2024 and 2027. In September, the company also reported the entry into environmental processing of three new projects that together include an installed capacity of more than 1,700 MW of photovoltaic energy and 2,400 MW of batteries, making it the company with the largest portfolio of renewable projects in the country with their respective Environmental Qualification Resolutions approved or in the process of approval.

ABOUT AES ANDES

AES Andes generates and sells energy in Chile, Colombia and Argentina. The company operates 5,657 MW in South America along with a broad portfolio of renewable energy projects under development. The company is one of the leading power generation companies in the region, with a diversified portfolio that includes hydroelectric, wind, solar, energy storage, natural gas and coal. In Chile, AES Andes and its subsidiaries own and operate 3,885 MW, comprised of 1,645 MW of thermal, 771 MW of hydro, 431 MW of wind, 667 MW of solar photovoltaic, and 371 MW of battery energy storage systems, as well as seawater desalination plants and transmission lines.