Commercial energy storage projects in Venezuela

What are the opportunities for battery energy storage systems in Latin America?

The opportunities for battery energy storage systems (BESS) are growing rapidly in Latin America. Below are some key details for those who want to understand and succeed in the BESS market.

What makes stand-alone storage projects profitable in Chile?

Chile passed an energy storage and electromobility bill in late 2022, making stand-alone storage projects profitable for operators. To provide a view of what is to come, AMI breaks down the status and opportunities of BESS in main Latin American markets.

When will Peru's study on energy storage begin?

In January 2024, Peru’s energy and mining investment regulator, Osinergmin, opened a request for a proposal for a study on energy storage. Peru has no existing BESS regulation and is currently evaluating how to move forward with battery storage projects.

Is energy storage legal in Brazil?

Brazil’s regulatory framework does not prohibit energy storage solutions. While there are currently no specific regulations on storage, most BESS applications in Brazil are behind the meter. A proposed law on energy storage aims to encourage front-of-the-meter BESS, but Congress has not prioritized its approval.

Does Colombia have a power purchase agreement for hybrid solar & Bess projects?

As of now, hybrid solar + BESS projects are progressing in Colombia due to the reliability charge (Cargo por Confiabilidad). However, large energy companies have reported that there are no Power Purchasing Agreements (PPAs) available specifically for stand-alone storage projects, making it harder to finance those projects.

Does Venezuela have hydropower?

It provides that the state must consider efficiency and the use of renewable energy in the provision of electric service. The law reserved hydropower in the Caroní, Paragua y Caura rivers (the major Orinoco tributaries with most of Venezuela’s developed hydropower) for the state.