Chile Secures $325M for Giant Battery and Solar Projects

Chile is turning its renewable energy boom into lasting power, thanks to a $325 million financing deal that will build critical infrastructure to store and deliver solar energy when the country needs it most.

The funding will support T Power, a renewable energy platform managed by Chilean asset manager Toesca, to construct a massive 141 MW battery energy storage system and expand solar generation across the country. Together with 18 smaller solar plants stretching from the Atacama Desert to the Biobío Region, these projects will help Chile use more of the clean energy it's already producing.

Here's why that matters. Chile's renewable energy sector is growing so fast that the country is actually wasting power because it can't store or use it all in real time. In the first 11 months of 2025, Chile had to curtail about 15% of its available wind and solar generation, roughly 5 terawatt-hours of clean energy that simply went unused.

Battery storage systems like this one solve that problem by capturing excess solar power during the day and releasing it when the sun goes down or demand spikes. That means less reliance on fossil fuel backup plants and more stable, clean electricity for millions of Chileans.

Chile's energy transformation is already remarkable. Solar power alone now accounts for more than 30% of the country's total electricity generation. The nation was the first in Latin America to introduce a carbon tax back in 2017, and it's phasing out coal faster than any other developing economy.

DNV, an independent energy consulting firm, helped secure the financing by analyzing market risks and demonstrating how the battery system could generate reliable revenue. International banks including SMBC, Natixis, and BCI backed the deal, showing strong confidence in Chile's clean energy future.

The Ripple Effect

This financing package does more than fund batteries and solar panels. It proves that large-scale renewable infrastructure can attract serious international investment, even in developing economies. That sends a signal to other countries racing toward their own climate goals: ambitious energy transitions are financially viable when backed by smart planning and storage solutions.

Chile aims to reach net-zero emissions by 2050, and projects like this are the building blocks that make that target achievable. By preventing renewable energy waste and displacing carbon-intensive power plants, the country is showing the world how to move fast without sacrificing grid reliability.

One deal, hundreds of megawatts, and a clearer path to a fossil-free future for an entire nation.