Grenergy scores PPAs for 288 MWp of solar projects in Chile

• Spanish renewables developer Grenergy Renovables SL (BME: GRE) claimed on Thursday it had authorized 2 power purchase contracts (PPAs) to provide around 240 GWh of solar power annually to a utility in Chile.

The acquired quantity will created by the 240-MWp Gran Teno and the 48-MWp Tamango solar farms that Grenergy is integrating in central Chile, the business stated in a bourse declaring sent out to the Spanish securities market regulatory authority.

The off-taker is claimed to be "a global utility business present in the Chilean market, with a financial investment grade rating".

The PPAs will certainly compete 12 and 15 years, beginning in June and July 2024. The solar farms are set to begin operation in 2023, according to the notification.

Both Gran Teno and Tamango become part of Grenergy's build-to-own portfolio in Chile.

Previously this year, Grenergy placed Gran Teno's future production out to tender, inviting offers for 380 GWh annually. It is unclear from Thursday's declaring if that is how the business protected the off-take.