Grenergy secures $345m loan for Chilean solar-storage project

• Grenergy Renovables secures $345M loan for Oasis de Atacama solar-plus-storage project in Chile, aiming for 1GW of solar and 4.1GWh of storage by 2024.

Spanish renewables developer-operator Grenergy Renovables SA has secured a loan of USD 345 million to finance the first two phases of its Oasis de Atacama solar-plus-storage project in Chile. The project aims to install close to 1 GW of solar plants and 4.1 GWh of battery energy storage systems, with the first phase expected to be connected by the end of 2024.

The financing syndicate includes BNP Paribas, Natixis Corporate & Investment Banking, Societe Generale, The Bank of Nova Scotia, and Sumitomo Mitsui Banking Corporation. Grenergy plans to invest up to USD 1.4 billion in the project, with suppliers like Ingeteam SA and BYD Co Ltd providing technology for the solar and storage components. Off-takers include an international utility and Chilean energy company Emoac, with PPAs covering 75% of the project's output.

What is the financing and timeline for Grenergy's Oasis de Atacama project in Chile?

• Grenergy Renovables SA has secured a loan of USD 345 million to finance the first two phases of its Oasis de Atacama solar-plus-storage project in Chile.
• The project aims to install close to 1 GW of solar plants and 4.1 GWh of battery energy storage systems.
• The first phase of the project is expected to be connected by the end of 2024.
• Grenergy plans to invest up to USD 1.4 billion in the project.
• The financing syndicate includes BNP Paribas, Natixis Corporate & Investment Banking, Societe Generale, The Bank of Nova Scotia, and Sumitomo Mitsui Banking Corporation.
• Suppliers like Ingeteam SA and BYD Co Ltd will provide technology for the solar and storage components.
• Off-takers for the project include an international utility and Chilean energy company Emoac, with PPAs covering 75% of the project's output.