Grenergy has announced the acquisition of a 1 GW solar portfolio from Repsol and Ibereólica, effectively doubling the solar capacity of its Oasis de Atacama project in Chile from 1 GW to 2 GW. This significant expansion will enhance the project's energy storage capacity to 11 GWh, making it one of the largest solar projects combined with energy storage systems in Latin America.

The acquisition, valued at $128 million, includes projects in various stages of development and a fully energized interconnection line. The Oasis de Atacama project is designed to generate approximately 5.5 TWh annually, providing reliable energy supply during non-solar hours.

Grenergy's expansion aligns with its broader strategy to develop large-scale renewable energy solutions. The company has secured substantial financial backing, including a recent $345 million financing deal with international banks such as BNP Paribas, Société Générale, and Natixis, to support the first two phases of the project.

With this acquisition, Grenergy aims to enhance the integration of renewable energies in Latin America, responding to the growing demand for electricity and positioning itself as a key player in the energy transition. The completion of the first phase of Oasis de Atacama is anticipated by the end of 2024, with further phases expected in 2025 and 2026.

Source: energynews.pro