Located in the northern Chilean region of Atacama, the financing will help towards the deployment of 3.5GWh of battery energy storage system (BESS) capacity in the sixth phase, dubbed Elena. The project currently has 77MW of solar PV operational, while the financing is aimed at starting the installation of the BESS to store the electricity generated by the PV plant, but also from the grid.

It also comes mere days after the Spanish IPP sold the fourth phase of the project to infrastructure investor CVC DIF, a subsidiary of asset manager CVC, for up to US$475 million. It has alread sold the first three phases of the project—which total 451MW of operational solar PV and 2.5GWh of BESS—to ContourGlobal, a subsidiary of private equity firm KKR.

This latest financing for the Oasis de Atacama was led by international financial institutions with Sumitomo Mitsui Banking Corporation (SMBC) as the structuring bank, and includes BNP Paribas, BBVA and KfW. In total, Grenergy secured more than US$1.2 billion in non-recourse financing for the Oasis de Atacama project, which comprises 2GW of solar PV and 11GWh of BESS.

David Ruiz de Andrés, CEO of Grenergy, said: “This operation reinforces the confidence of international banks in our hybrid model and the soundness of our strategic plan. Elena is not only the largest phase of the Oasis de Atacama megaproject, but also an example of the excellent execution of our EPC teams. With the accelerated installation of batteries, we are maximising the value of the project by taking advantage of market opportunities during non-solar hours, consolidating our leadership in large-scale energy storage.”

Para leer más ingrese a:

https://www.energy-storage.news/grenergy-secures-us270-million-financing-for-3-5gwh-bess-in-oasis-de-atacama-phase-6/