Grenergy Secures $268 Million Financing for Central Oasis Project in Chile
Spanish renewable energy company Grenergy has secured $268 million in senior non-recourse financing for the Monte Águila hybrid solar and battery storage project in Chile, strengthening the company’s ongoing expansion of its Central Oasis platform.
The Monte Águila project will combine approximately 342 MW of solar photovoltaic capacity with 1,034 MWh of battery energy storage systems (BESS) and is located in Chile’s Biobío region.
According to Grenergy, the financing agreement was arranged through an international banking consortium led by BNP Paribas, with participation from KfW IPEX-Bank, Rabobank, Natixis, and The Bank of Nova Scotia.
The project forms part of Grenergy’s broader Central Oasis platform, which is expected to deliver approximately 1.1 GW of solar capacity and 4 GWh of storage across central Chile. The company estimates the total investment in the platform at around $900 million, with operations scheduled between 2026 and 2027.
Grenergy said the Monte Águila facility includes a 12-year daytime power purchase agreement (PPA), while a portion of remaining energy production will be commercialized through the company’s Chilean energy trading subsidiary, GR Power.
The latest financing follows several recent funding agreements tied to the Central Oasis and Oasis de Atacama platforms, bringing total non-recourse financing secured for the company’s Chilean storage and solar developments close to $2 billion.
Grenergy has positioned Chile as a strategic market for hybrid renewable energy projects that combine utility-scale solar generation with battery storage. The company said Central Oasis was designed to replicate the model developed at Oasis de Atacama, one of the world’s largest battery storage platforms.
The financing announcement comes as Chile continues expanding large-scale renewable energy and storage infrastructure to support grid stability and national decarbonization goals. Industry analysts have identified battery storage as an increasingly important component of the country’s evolving electricity system.
Grenergy recently also announced agreements related to battery procurement and additional financing for Central Oasis, including a deal with BYD Energy Storage for the supply of 2.6 GWh of storage systems for the platform.
Source: renews.biz
