There are a few factors driving Chile's battery boom. Lower investment costs haven't hurt. Analyst BloombergNEF's annual battery price survey, published in November 2023, recorded a 14% drop in costs from 2022 to 2023, to a record low of $139/kWh. . Fitch Ratings-Sao Paulo/New York-01 April 2025: Project finance transactions in Chile are expected to increase due to the recent commissioning of large battery energy storage systems (BESS), Fitch Ratings says. 6 GW in 2024 and electricity prices soaring to $0. 23/kWh in mining zones, businesses demand lowest-cost BESS solutions. 6 GW of which are assets already under construction. . In July 2024, AES announced plans to construct a 763 MW solar plant with a 1,063 MW battery offering five-hour storage, as reported in pv magazine LatAm. The costs of lithium-ion batteries have fallen by 50% in a decade, with projections expecting further declines. This trend is crucial for Chile's renewable energy expansion. . This risk has proven particularly tricky to size and mitigate in Chile because, under the DistCo PPAs, the cost to purchase energy at the nodes at which the energy is required to be physically delivered by the project to the offtakers at a large number of locations across the country can prove to. .
Contango Oil & Gas Company has finalized its merger with Independence Energy Corp., and the new entity has rebranded as Crescent Energy Company. Crescent is backed by PE firm KKR. . HOUSTON– (BUSINESS WIRE)–Crescent Energy Company (“Crescent” or the “Company”) (NYSE: CRGY) today announced the successful completion of the combination of Independence Energy LLC (“Independence”) and Contango Oil & Gas Company (“Contango”), creating a premier, diversified and well-capitalized U. announced Tuesday they will merge in an all-stock transaction. Houston-based. . Independence is a diversified, well-capitalized upstream oil and gas business built and managed by KKR's Energy Real Assets team with a scaled portfolio of low-decline, producing assets with meaningful reinvestment opportunities for low-risk growth across the Eagle Ford, Rockies, Permian, and. .
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