First CSP plant in Latin America to supply 100% renewable energy 24 hours a day
It will supply Chile’s national electricity system with flexible, reliable and safe energy
EIG, the leading institutional investor in the global energy sector and one of the world’s most prominent infrastructure investors, announced today the inauguration of the Cerro Dominador solar park following the successful synchronization with Chile’s national electricity system. Cerro Dominador is wholly owned by funds managed by EIG.
The complex is located in the center of the Atacama desert of Chile, one of the best places in the world to generate solar energy and consists of a 110 MW photovoltaic solar plant and an adjoining 100 MW photovoltaic plant, which has been in operation since 2017. The CSP plant was built with the latest solar energy technologies to heat molten salt, which is then stored in large tanks to later generate electricity through steam turbines. This technology provides up to 17.5 hours of energy storage, so that 100% renewable energy can be generated 24 hours a day, seven days a week. This solar park can offset some 640,000 tons of carbon dioxide emissions per year and generate enough energy to supply almost 380,000 homes.
In this regard, R. Blair Thomas, President and Managing Director of EIG, said: “We are proud to be able to support this pilot project, which will supply flexible, safe and reliable renewable energy to the Chilean electricity grid and will contribute significantly to the reduction of electricity CO2 emissions in Chile. The project perfectly corresponds to the objectives and priorities of ESG and helps to lay the foundations for a future with lower carbon emissions, because it generates clean, reliable and profitable energy. We are committed to continue investing in the future in CSP projects both in Chile and in other parts of the world. “
In order to celebrate the inauguration of the solar park, Cerro Dominador organized a ceremony at the facilities, which was attended by the President of Chile, Sebastián Piñera, the Minister of Energy and Mines of Chile, Juan Carlos Jobet, the Minister of the Environment. from Chile, Carolina Schmidt and other senior government officials. Likewise, Mr. Thomas and Fernando González, managing director of Cerro Dominador, participated.
EIG is a leading institutional investor in the global energy sector and manages $ 21.7 billion as of March 31, 2021. EIG specializes in private investments in energy and energy-related infrastructure globally. During its 39-year history, EIG has allocated more than US $ 37 billion to the energy sector with more than 370 projects or companies in 37 countries, on six continents. EIG’s clients include many of the leading retirement plans, insurance companies, endowment funds, foundations and sovereign wealth funds in the United States, Asia and Europe. EIG is headquartered in Washington, DC, with offices in Houston, London, Sydney, Rio de Janeiro, Hong Kong, and Seoul. For more information, visit the website www.eigpartners.com.
About Cerro Dominador
Cerro Dominador is the owner of the Cerro Dominador Solar Park, whose capacity is 210 MW, thanks to the combination of a 100 MW photovoltaic plant and the first 110 MW solar thermal plant in Latin America, with 17.5 hours of thermal storage . The company, owned by funds managed by EIG, works to help transform the energy matrix through the development of renewable energy projects. Based on innovation, Cerro Dominador generates renewable energy projects that stand out for being flexible, manageable and sustainable.
The original text in the source language of this release is the official authorized version. Translations are provided as an adaptation only and must be checked against the text in the source language, which is the only version of the text that will have legal effect.
View the original version at businesswire.com: https://www.businesswire.com/news/home/20210608006151/en/
Sard Verbinnen & Co.
Kelly Kimberly / Brandon Messina
Maria Jose Lopez
Director of corporate affairs