Name of the Project
Pumped-storage and solar photovoltaic (PV) power project.

Location
Both projects are located in the Tarapacá region, in Chile.

The Espejo de Terapacá pumped-storage scheme is located 100 km south of Iquique. The site is located at an altitude of 600 m and has capacity equivalent to 22 000 Olympic pools and an area equivalent to 500 soccer fields.

The 1 570 ha Cielos de Terapacá solar PV project is located in Pintados, about 75 km south-east of Iquique, in Tarapacá.

Client
Valhalla.

Project Description
The project involves the construction of two distinct, but complementary, power projects.

The combined projects will negate each other’s shortfalls.

Espejo de Tarapacá involves the installation of a pumped-storage hydroelectric plant, which will use solar energy produced during the day from the Cielos de Tarapacá solar PV plant to elevate seawater through a system of tunnels to the surface of a coastal cliff, where it will be stored in natural concavities located at an altitude of 600 m.

The project will inject an estimated 1 800 GWh/y of energy into the Chilean electricity grid.

Jobs to Be Created
Not stated.

Value
The project is estimated at $900-million.

Duration
The pumped-storage project is expected to start construction this year and should take about 3.5 years to build. The PV portion of the project is expected to start in 2018 and will take about two years to build.

The entire project is expected to be completed by 2020.

Latest Developments
Valhalla has hired Marathon Capital to help find strategic investors for the project.

Key Contracts and Suppliers
Marathon Capital (finance consultant).

On Budget and on Time?
Not stated.

Contact Details for Project Information
Valhalla, email info@valhalla.cl.