40MWh! Two investors plan to deploy solar + energy storage projects in Paraguay
A joint venture (JV) formed by investors PASH Global and ERIH Holdings reportedly plans to develop utility-scale solar power facilities and battery energy storage system projects in Paraguay.
A spokesperson for UK-based PASH Global said the partnership's first phase of investment targets 100MW of solar power facilities and 40MWh of independently deployed battery storage projects.
In the second phase, the size of the solar power facility could increase to 200MW and the battery storage project to 70MWh, he added.
The companies announced that the first solar+storage project will be commissioned in 2024, and the rest will be deployed between 2024 and 2025.
Akin Gunduz, CEO of ERIH, said, "We are pleased to partner with PASH Global and see significant opportunities for our joint venture to expand solar power facilities and energy storage systems.
I believe this will pave the way for more opportunities in Latin America's renewable energy and energy storage markets."
Like most Latin American countries, Paraguay's battery energy storage system market is in its relatively early stages. However, recent moves by the country's government suggest that this may change.
In early 2021, the country's grid operator and utility vendor ANDE plans to deploy new solar+storage projects.
In Paraguay's "Power Generation Master Plan 2021-2040," seven projects will deploy solar power facilities with battery storage systems. Three larger storage projects with a capacity of 44 MWh will be deployed from 2024 to 2025.
PASH Global is headquartered in London, UK, while ERIH is based in Ankara, Turkey.
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