DNV, an independent energy expert and assurance provider, has enabled Zelestra to secure a US$282 million green financing package for Chile’s Aurora project – a landmark 220 MWdc solar PV and 1 GWh battery storage hybrid facility. By delivering renewable energy during night-time hours under a long-term power purchase agreement (PPA), Aurora addresses Chile’s dual challenge of grid reliability and decarbonisation, setting a benchmark for large scale renewable projects in Latin America.
Backed by financing from Natixis CIB, BNP Paribas, and BCI, Aurora ranks among the largest hybrid renewable projects in Latin America. DNV supported the financial close by providing a full suite of market advisory and technical due diligence services, including revenue forecasting, PPA structure assessments, and battery dispatch optimisation. DNV’s insights, powered by its proprietary Power Analytics platform, gave lenders the independent validation needed to assess the project’s bankability and risk profile with confidence.
Chile is racing ahead in its energy transition, already generating nearly 70% of its electricity from renewables – reaching its 2030 target years ahead of target. The country is leveraging the world’s highest solar irradiance (in the Atacama Desert) with over 11 GW of installed solar capacity, accounting for over one-fifth of the electricity output. The country is linking these resources to demand centres via a 3 GW transmission line, and targeting 5 GW of battery storage by 2030 to manage intermittency.
Santiago Blanco, Executive Vice President and Regional Director for Southern Europe, Middle East, and Latin America at DNV, said: “DNV is proud to support Zelestra in unlocking financing for this landmark project. Our data-driven approach demonstrates how tailored solutions can bridge the gap between ambitious climate targets and investable opportunities.”
For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.
Energy Global's Summer 2025 issue
Dive into the latest renewable energy insights in the Summer issue of Energy Global, out now! This edition features a guest comment from Change Rebellion on the role real change management can play in the global energy sector before a regional report, which looks at energy trends and transformations across the Americas. Other key topics are also explored, including offshore support vessels, floating wind, weather analysis, and battery storage. Contributors include Ørsted, CRC Evans, Miros, Solcast, and more, so don’t miss out!