- The financing is linked to the Monte Águila hybrid plant, which comprises 342 MW of solar capacity and 1,034 MWh of storage, integrated into the Central Oasis platform in Chile
- The transaction has been arranged with BNP Paribas as coordinating bank, alongside KfW IPEX-Bank, Coöperatieve Rabobank, Natixis, and The Bank of Nova Scotia
Grenergy has closed a $268 million senior non-recourse financing agreement, including credit facilities, for the Monte Águila plant. The project has a solar capacity of 342 MW and 1,034 MWh of storage and is part of the Central Oasis platform, located in Chile.
The financing has been arranged with an international banking syndicate led by BNP Paribas as coordinating bank, with the participation of KfW IPEX-Bank, Coöperatieve Rabobank, Natixis, and The Bank of Nova Scotia.
This new transaction adds to the non-recourse financings previously signed by Grenergy for the development of the Gran Teno, Tamango, and Planchón hybrid plants, which make up the first three phases of the Central Oasis platform in Chile.
In total, the company has secured close to $2 billion in non-recourse financing for its Oasis platforms, which include: Oasis de Atacama in northern Chile and Central Oasis across the regions of Gran Teno, Maule, and Aysén.
The project also has a 12-year daytime power purchase agreement (PPA). In addition, a significant portion of the remaining energy will be marketed through GR Power, Grenergy’s energy trading subsidiary in Chile.
Central Oasis platform
Central Oasis represents one of Grenergy’s key strategic bets in Chile, with a planned total capacity of 1.1 GW of solar and 4 GWh of storage, and an estimated investment of $900 million.
The platform, expected to become operational between 2026 and 2027, was conceived to replicate the successful solar and storage hybrid model developed by Grenergy at Oasis de Atacama, one of the world’s largest battery platforms and the first of its kind in Latin America.
On 27 May, Grenergy will update its investment plan through 2028, including new hybrid projects as well as Greenbox, its stand-alone platform in Europe.
'Securing nearly $2 billion in financing for our OASIS platforms in Chile in just 18 months demonstrates the strength of our model and our ability to execute large-scale projects. We now aim to bring this success to Europe,' said David Ruiz de Andrés, CEO of Grenergy.
About Grenergy
Grenergy is a Spanish multinational and producer of clean energy. Founded in 2007, it has been listed on the Spanish stock exchange since 2015 and currently has a market capitalization of more than €3.5 billion. The company develops, builds and operates solar photovoltaic plants and is also a pioneer in the energy storage industry.
With a team of more than 600 people, it operates across three key regions: Europe (Spain, Italy, Germany, Poland, Romania and the United Kingdom), North America (United States) and Latin America (Chile, Peru, Mexico and Colombia). Its global portfolio includes 75 GWh of storage capacity and 12 GW of solar capacity at various stages of development.
Thanks to its strong commitment to battery storage, the company can deliver clean, affordable, reliable and continuous energy — wherever and whenever it is needed, 24/7.
Source: Grenergy
