Statkraft has shelved plans to develop a 440MW renewables complex in northern Chile, returning a lease for the government land to the ministry of national assets.
The Norwegian firm said it took the decision after two years of testing in the area failed to return “results required to guarantee the project’s viability nor the profitability expected of initiative of this scale”.
The company had planned to invest $650 million in the Vientos del Desiertos project which would have consisted of a 317MW wind farm, 123MW of solar PV capacity and a battery storage system.
The company won the right to use the area in a 2021 tender and applied for an environmental license at the end of 2023.
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