Highview Power and Enlasa Enter Joint Venture to Develop Giga-Scale Cryogenic Energy Storage Projects in Chile and Latin America

SANTIAGO & LONDON--(BUSINESS WIRE)--Highview Power, a global leader in long duration energy storage solutions, has entered into a joint venture agreement with Energía Latina S.A.-Enlasa, the largest backup power generation provider in Chile, to co-develop giga-scale cryogenic energy storage projects in Chile and other Latin American markets.

“We are excited to work with Enlasa to bring Highview’s technology to Chile,” said Javier Cavada, CEO and President of Highview Power. “Together, our two companies can harness the growing deployment of renewables in Chile and across Latin America and bring renewable baseload power to the region, all without the geographic constraints associated with other energy storage technologies.”

The joint venture, named Highview Enlasa, will help to open Latin American energy markets to baseload renewable energy potential. Highview Power’s long duration energy storage system, paired with renewable energy sources, are equivalent in performance to thermal and nuclear power. CRYOBatteries are developed using proven components from mature industries, it delivers pumped-hydro capabilities without geographical constraints and can be configured to convert waste heat and cold to power.

“Enlasa is very committed to sustainability and through our partnership with Highview Power we are on the leading edge of providing innovative energy storage solutions to Latin America,” said Rodrigo Sáez, CEO of Enlasa. “Highview Power’s cryogenic technology is the optimal solution to provide the large scale, long duration energy storage that is needed to balance the grid as more solar and wind power come online.”

Chile has one of the best solar irradiations of the world and the deployment of solar power together with the national decarbonization strategy require long duration energy storage to provide the needed energy balance to achieve a sustainable grid. Other Latin America markets have similar initiatives, and a CRYOBattery™ plant in Chile will serve as a great business case for the region.

About Highview Power

Highview Power is a designer and developer of the CRYOBattery™, a proprietary cryogenic energy storage system that delivers reliable and cost-effective long duration energy storage to enable a 100 percent renewable energy future. Its proprietary technology uses liquid air as the storage medium and can deliver anywhere from 20 MW/100 MWh to more than 200 MW/2 GWh of energy and has a lifespan over 30 years. Developed using proven components from mature industries, it delivers pumped-hydro capabilities without geographical constraints and can be configured to convert waste heat and cold to power. For more information, please visit: http://www.highviewpower.com.

About Enlasa

Energía Latina S.A. -Enlasa is an energy generation company with more than 12 years of history. Until now our business model has been mainly oriented to provide backup power to the National Grid making available flexible/fast response units to the system, providing grid security in case of contingencies or unavailability in the transmission facilities. Energía Latina S.A. is an open joint-stock company and the parent company of a corporate conglomerate. Its affiliate Enlasa Generación Chile S.A. owns the historical generation assets.

http://www.enlasa.com