AES Andes strengthens its renewable portfolio with the approval of its Pampas project

This is an automatic translation of the original release issued in Spanish

PRESS RELEASE from AES Andes
August 27, 2024

The park, which will be located in Taltal, Antofagasta Region, will combine wind and solar technology with an advanced battery energy storage system.

Santiago, August 27, 2024.- AES Andes continues to expand its renewable portfolio by obtaining approval of the Environmental Qualification Resolution (RCA) for its Pampas Hybrid Park project.

This initiative will be located in the municipality of Taltal, in the Antofagasta Region, and will include a wind farm with an installed capacity of 140 MW and a 252 MW photovoltaic solar park. This set will be joined by an energy storage system based on batteries with a capacity of 624 MW with a duration of up to 5 hours.

This new project will allow energy to be stored during periods of greater resource availability and then delivered to the system at times of greatest demand, thus optimising the use of renewable energy.

Javier Dib, CEO of AES Andes, highlighted that "the Pampas Hybrid Project not only confirms our company's commitment to the development of renewable energies, but also our leadership in Latin America in storage solutions to continue delivering the services that the system requires to enable an effective energy transition. Pampas is a new step in our Greentegra strategy to quickly advance towards the transformation of our portfolio to renewable energy."

Construction of Pampas is scheduled to begin in the first half of 2025.

Since the launch of the Greentegra transformational strategy (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 1,163 MW of wind and solar capacity and become the leader in Latin America in battery-based storage systems.

In Chile, there are projects under construction for 767 MW of renewable capacity, in addition to a portfolio of contracted projects of more than 1,400 MW in development, all with an investment of more than US$1.9 billion between 2024 and 2027.

About AES ANDES

AES Andes generates and sells energy in Chile, Colombia and Argentina. The company operates 5,316 MW in South America along with a broad portfolio of renewable energy projects under development. The company is one of the leading generating firms in the region, with a diversified portfolio that includes hydroelectric, wind, solar, energy storage, natural gas and coal plants.

In Chile, AES Andes and its subsidiaries own and operate 3,544 MW, comprised of 1,645 MW of thermoelectric, 771 MW of hydroelectric, 431 MW of wind, 456 MW of solar photovoltaic, and 241 MW of battery energy storage systems, as well as seawater desalination plants and transmission lines.