Sungrow Surpasses 12 GWh BESS Contracted in Latin America, Chile Represents Two-Thirds of Regional Portfolio

Sungrow has contracted over 12 GWh of battery energy storage systems across Latin America, with Chile representing approximately 8 GWh of the total portfolio, according to Luis Fernando Biagini, Head of Sales Southern Cone. The company maintains 7.2 GWh of operational capacity under long-term service agreements that can extend to 20 years, distinct from its total contracted backlog. Gonzalo Feito, director of the Andean region, estimated Latin America will reach 20 GWh of installed BESS capacity by end-2026 based on signed contracts and projects under development.

Chile dominates Sungrow’s regional footprint as solar parks without power purchase agreements integrate batteries to shift energy delivery from low-price midday hours to evening peaks. Retrofit projects leverage existing infrastructure to evaluate arbitrage revenues, though viability depends on additional capital expenditure and hourly price differentials. Biagini characterized Chile as “the laboratory of Latin America” for storage solutions that other countries now replicate.

Colombia emerged as Sungrow’s second-largest market, followed by Central America and Dominican Republic. Mexico remains absent from the company’s contracted volume despite recent energy tenders creating commercial opportunities. Peru concentrates 1.2 GW of Sungrow’s installed photovoltaic capacity, with new hybrid projects pairing storage systems equivalent to 30-40% of solar power based on active commercial quotations.

Argentina’s AlmaGBA tender allocated 667 MW for 2025 installation at critical nodes in Buenos Aires Metropolitan Area, while the July 2026 Alma-SADI tender awarded 700.5 MW across 20 projects in seven regions. The Alma-SADI process attracted over 8,300 MW in bids against 700 MW tendered capacity, representing estimated investment of $700 million. Biagini described Argentina as “a market where there is no turning back” for independent power producers, though installations remain smaller than Chilean benchmarks.

Battery economics evolved from pandemic-era prices near $400/kWh with 2 MWh containers to current systems offering 7.2 MWh capacity in similar dimensions. Reference prices declined progressively to $300, $200 and $100/kWh post-COVID, accompanied by contractual mechanisms distributing lithium commodity price risks between manufacturers and buyers. Arbitrage spreads previously considered viable at $80 no longer represent the sole revenue stream as capacity markets and frequency regulation create additional value. Projects exceeding 600 MWh capacity now constitute regular activity in developed markets, though reaching such scale would mark significant advancement for Argentina and Peru. Sungrow has installed 25 GW of solar capacity region-wide, including 8.5 GW in Spanish-speaking Latin America.