Colbún and RheEnergise will work together to evaluate the feasibility of building a 10 MW, 10-hour HD Hydro system in Chile. Colbún 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.
It is RheEnergise’s first commercial venture in South America. RheEnergise will undertake investigations and technical studies of potential sites for its HD Hydro system, whilst Colbún 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 10 MW scheme in commercial operation by 2030.
RheEnergise’s HD Hydro storage system is low-cost, energy efficient and fast to develop and construct. Rather than using water, it uses an environmentally benign fluid which is 2½ times denser than water, and which can provide 2½ times the power when compared to a conventional low-density hydro-power system. It means that HD Hydro can be deployed beneath the surface of hills rather than mountains, so opening up massive opportunities in markets around the world.
“Innovation is key for the energy transition” said Diego García, Colbún’s Innovation Manager. “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.”
Stephen Crosher, Chief Executive of RheEnergise said that the company’s HD Hydro technology can provide Colbún with medium and long duration energy storage, can quickly and easily be constructed and can help Colbún achieve its Net Zero and sustainability goals.
Sophie Orme, Commercial Director at RheEnergise said that Chile is a very attractive market for RheEnergise’s HD Hydro and that the Chilean Government is leading the way in Latin America, having dedicated $2 billion for energy storage auctions from 2024, and set a renewables target of 70 percent by 2030 and carbon neutral by 2050.
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