The battery energy storage system (BESS) market in Latin America is experiencing rapid expansion, with Colombia emerging as a key player in this region, demonstrating notable advancements. The country's photovoltaic (PV) market is thriving, having amassed an installed capacity of 710 megawatts (MW) of PV systems, predominantly grid-connected. Notable milestones include the largest PV park in Colombia constructed by the Italian conglomerate Enel and Canadian Solar's inaugural large-scale battery storage project, both emblematic of significant investments in renewable energy.
Furthermore, Canadian Solar Group has successfully secured a 45 MW/45 MWh utility-scale battery storage project, enhancing grid stability in Colombia's Atlántico Department in the north and mitigating power shortages. This project, tied to a 15-year fixed-income agreement with the Colombian government, underscores the state's commitment and support for energy storage initiatives.
Ambitiously, Colombia aims to generate at least 4 gigawatts (GW) of non-traditional renewable energy by 2030, accounting for 74% of the national power grid. To achieve this goal, the country endeavors to phase out fossil fuels like coal and natural gas, instead expanding the utilization of non-traditional renewables to cater to future energy demand growth.
In summary, Colombia plays a pivotal role in advancing BESS, leveraging large-scale projects and policy backing to actively promote renewable energy and storage technologies, setting a robust example for Latin America's green energy transition.
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