Chile has granted environmental approval for the construction of the world’s largest energy storage facility, in the northern Atacama region, which will provide 260 MW to the national energy system.

The plant, to be built by Solar Reserve, will be in one of the driest and most mineral-rich areas on the planet.

The plant is expected to begin operations in four years, according to a press release.

The project has an investment of $2 billion.

“No other proven renewable energy technology is able to deliver this type of competitive cost wise solution,” said Kevin Smith, CEO of SolarReserve.