Korkia advances its Chilean renewable energy portfolio with authorization for the Terrazas sectioning substation

Chile’s National Energy Commission (Comisión Nacional de Energía, CNE) has authorized the execution of the new Terrazas sectioning substation, a critical infrastructure asset enabling the grid connection of Korkia’s Terrazas hybrid project in Chile. This milestone further strengthens Korkia’s presence in the country, as the authorization supports the development of infrastructure associated with 280 MW solar PV and 1,240 MWh of battery energy storage (BESS) capacity.

The authorization covers the development of a new 220 kV sectioning substation in the Ovalle area, Coquimbo Region, approximately 370 kilometres north of Santiago. The substation has been designed not only to enable the Las Terrazas project’s grid connection, but also to leave capacity for potential future expansions and open access in the area.

“This authorization is a significant milestone because it enables critical grid infrastructure to move forward when timing is essential. It allows the substation works required for connection to progress, supporting the integration of large-scale solar and storage in Chile,” said Rodrigo Ackermann, Vice President LatAm​ at Korkia.

Once operational, the Terrazas project is expected to supply renewable electricity to approximately 150,000 households annually.

“Terrazas reflects our long-term commitment to Chile’s energy transition. Hybrid projects like this help deliver renewable energy more reliably and support the system with the flexibility it increasingly needs,” Ackermann added.

Located close to major energy demand centres and northern Chile’s mining operations, the project benefits from exceptional solar resources, with some of the highest solar irradiation levels in Chile and among the best conditions globally. Hybrid solar and battery projects play a critical role in supporting Chile’s energy transition by increasing grid resilience and enabling higher penetration of renewable generation.

Chilean renewable energy market is characterised by strong renewable energy fundamentals, high-quality solar and wind resources, and growing demand for flexible generation and storage solutions.

Korkia’s global mature development pipeline of 15 GW 

Korkia has achieved multiple other development milestones across its global portfolio in 2026, including environmental approval for a 150 MW BESS project in Chile, grid connection permits for Romanian portfolio, and two solar projects securing Power Plant Approval in Alberta, Canada. In addition, the company has exited two fully-permitted solar PV projects and a 10.7 MW portfolio of solar PV assets in northern Italy. 

Korkia’s renewable energy portfolio currently comprises 15 GW mature and 9 GW of early-stage utility-scale solar, wind, and energy storage (BESS) development assets in Europe, North America and South America. 

Additional information:

Rodrigo Ackermann

Vice President, LatAm​

+56 990 154 502

rodrigo.ackermann@korkia.fi​

The information presented reflects the situation at the time of presentation and is subject to change. Market and other conditions may change, which may affect the content of the information provided.