RheEnergise has entered the South American energy market by signing an agreement with hydropower company Colbun to explore potential for its long duration storage technology in Chile.
Colbun is the third largest power generation company in Chile and its asset portfolio includes hydropower stations.
It will work with RheEnergise to evaluate the feasibility of building a 10MW, 10-hour High-Density Hydro (HD Hydro) system in Chile.
Colbun sees the deployment of RheEnergise’s HD Hydro as a way to complement its existing portfolio of hydro, wind and solar projects through a new technology that could solve the problem of intermittency of renewable energy.
RheEnergise’s HD Hydro technology is particularly attractive in Chile because it is not affected by water scarcity risks.
In its first commercial venture in South America RheEnergise will undertake investigations and technical studies of potential sites for its HD Hydro system, while Colbun will provide RheEnergise with local market knowledge, advice on planning and permitting and on utility connections.
Subject to the outcome of this work, to be carried out over the next 12 months, the two companies are aiming to have their first 10MW scheme in commercial operation by 2030.
Instead of water RheEnergise’s HD Hydro storage system uses an environmentally benign fluid which is denser than water, and which can provide two and a half times the power when compared to a conventional low-density hydropower system.
It means that HD Hydro can be deployed beneath the surface of hills rather than mountains, opening up more opportunities in markets around the world.
Colbun’s innovation manager Diego García said: “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, and the technology that RheEnergise is developing could have a key role in this regard.”
Commercial director at RheEnergise Sophie Orme said: “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.”