Chile's Grenergy Secures 15-Year PPA for Massive Solar-Plus-Storage Project

• Grenergy Renovables secures a 15-year PPA for its Oasis de Atacama solar-plus-storage project in Chile, supplying 8 TWh of energy and solidifying its position as a global leader in renewable energy.

Spanish renewables company Grenergy Renovables has signed a 15-year power purchase agreement (PPA) for the fourth phase of its Oasis de Atacama solar-plus-storage development in Chile. The hybrid PPA will supply approximately 8 TWh of energy over the 15-year period, beginning in May 2026. The off-taker is an international utility with an investment grade credit rating. The Oasis de Atacama complex will have close to 1 GW of solar capacity and 4.1 GWh of battery energy storage systems. The fourth phase will consist of 260 MW of solar and 220 MW/1,100 MWh of energy storage, becoming operational at the end of 2025.

With this agreement, 75% of the project's output is now under PPAs. Grenergy previously signed a PPA with Chilean utility Emoac for part of the project's nightly production. China's BYD has also been signed as the supplier of 1.1 GWh of batteries for the first two phases of the project. Grenergy CEO David Ruiz de Andres called the project a "global benchmark in the sector."

What is the significance of Grenergy Renovables' 15-year power purchase agreement in Chile?

• The 15-year power purchase agreement (PPA) signed by Grenergy Renovables for the fourth phase of its Oasis de Atacama solar-plus-storage development in Chile is of significant importance.
• The hybrid PPA will supply approximately 8 TWh of energy over the 15-year period, starting from May 2026.
• The off-taker for this PPA is an international utility with an investment grade credit rating, indicating the credibility and financial stability of the buyer.
• The Oasis de Atacama complex, upon completion, will have nearly 1 GW of solar capacity and 4.1 GWh of battery energy storage systems, making it a substantial renewable energy project.
• The fourth phase of the project will consist of 260 MW of solar capacity and 220 MW/1,100 MWh of energy storage, and it is expected to become operational by the end of 2025.
• With this agreement, 75% of the project's output is now secured under PPAs, ensuring a stable revenue stream for Grenergy Renovables.
• Grenergy had previously signed a PPA with Chilean utility Emoac for a portion of the project's nightly production, further diversifying its off-takers.
• The renowned Chinese company BYD has been selected as the supplier of 1.1 GWh of batteries for the first two phases of the project, highlighting the collaboration between international players in the renewable energy sector.
• Grenergy CEO David Ruiz de Andres has described the Oasis de Atacama project as a "global benchmark in the sector," emphasizing its significance and potential impact on the renewable energy industry.