RheEnergise has inked a deal with hydropower company Colbun to jointly explore potential for storage technology in Chile.
The company entered the South American energy market by signing this agreement targeting its long duration storage technology. This new technology is expected to solve the problem of intermittency of renewable energy.
As per reports, Colbun is the third largest power generation company in Chile whose asset portfolio includes hydropower stations. The duo will work together to “evaluate the feasibility of building a 10MW, 10-hour High-Density Hydro (HD Hydro) system in Chile.”
RheEnergise’s HD Hydro is expected to boost Colbun’s portfolio of hydro, wind and solar projects.
A local report mentioned that RheEnergise's HD Hydro technology, the first commercial venture in South America, will manage investigations and technical studies of potential sites for Hydro system, while Colbun will complement on local market knowledge, planning and on utility connections.
The duo has set a target to have their first 10MW scheme in commercial operation by 2030.
Colbun’s innovation manager Diego García was quoted in a statement, “Innovation is key for the energy transition. Technological advances in solar and wind power makes them the leading sources of green energy in many parts of the world. Now, we need new storage solutions to cope with the intermittency of renewable energy.”
Meanwhile, Commercial director at RheEnergise Sophie Orme remarked, “Chile is a very attractive market for RheEnergise’s HD Hydro. We are delighted to partner with Colbun, drawing on their first-hand experience of the market, in particular hydro and solar and to help them achieve their plan to add 4GW of renewable assets by 2030.”
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