Grenergy secures US$355 million financing for its Central Oasis platform

The financing has been secured with an international syndicate of banks led by BNP Paribas as co-ordinating bank, together with Banco Santander and Rabobank.

This transaction will allow Grenergy to refinance its existing solar projects and hybridise Gran Teno (241 MW solar and 884 MWh storage) and Tamango (49 MW solar and 158 MWh storage), both currently in operation, as well as fund the construction of the Planchón hybrid project (108 MW solar and 379 MWh storage). All of these assets are part of Central Oasis, one of Grenergy’s battery platforms in Chile.

The three projects benefit from long-term solar power purchase agreements (PPAs). In addition, any excess energy will be marketed through GR Power, Grenergy’s energy trading subsidiary in Chile.

With this transaction, Grenergy approaches US$1.6 billion in non-recourse financing secured for its Oasis platforms: Oasis de Atacama in northern Chile and Central Oasis in the Gran Teno, Maule, and Aysén regions.

With a planned capacity of 1.1 GW of solar and 4 GWh of storage, the Central Chile platform represents an investment of approximately US$900 million and is expected to become operational in 2026 and 2027.

Central Oasis was conceived to replicate the solar and storage hybrid model Grenergy pioneered in Oasis de Atacama, one of the world’s largest battery platforms and the first of its kind in Latin America.

The success of Oasis de Atacama and Central Chile paves the way for a new generation of hybrid projects, which the company intends to develop in other markets, including Spain.

Aligned with its 2025 – 2027 strategic plan, presented during the latest Capital Markets Day in London, Grenergy is moving forward with deploying the Oasis model at the Escuderos plant in Castilla-La Mancha. This facility aims to become a benchmark in Europe, with an expected capacity of 200 MW solar and 704 MWh of storage. Grenergy is also moving forward with the development of Greenbox, its stand-alone battery platform in Europe, which is another key pillar of its strategic plan. Oviedo plant (Spain) is Greenbox’s flagship project. Through such initiatives, Grenergy further strengthens its leadership in hybrid renewable energy generation and storage solutions.

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