(SeeNews) - Aug 19, 2014 - Chile's environmental authorities in the northern Tarapaca region yesterday accepted for evaluation a pumped storage hydro power project of up to 300 MW, proposed by local firm Valhalla Energy.
The Espejo de Tarapaca plant will be built in the coastal area Caleta San Marcos with an investment of USD 385 million (EUR 288.4m). It will consume an average of 2.28 GWh per day to pump seawater to a higher elevation and will generate 1.75 GWh when the water is released, usually at night. The electricity will be injected in Chile's northern network through the Lagunas substation.
Valhalla Energy and its partner, local innovation entity Fundacion Chile, plan to use electricity from solar plants during the day. Espejo de Tarapaca represents large-scale energy storage which will help increase the security of the power system, stabilising the electricity prices, according to Valhalla.
(USD 1= EUR 0.749)