Grenergy Renovables SA has obtained $324 million in financing for the fourth phase of the Oasis de Atacama solar-plus-storage project in Chile. The funding, arranged with a consortium of banks including BNP Paribas, Natixis Corporate and Investment Banking, Societe Generale, The Bank of Nova Scotia, and SMBC, raises total financing for the project to $967 million.

The fourth phase, named Gabriela, will add 269 MW of solar power and 1.1 GWh of energy storage capacity to the five-phase initiative.

In December 2024, Grenergy sold the first three phases of Oasis de Atacama—Quillagua I, Quillagua II, and Victor Jara—to ContourGlobal for up to $962 million in enterprise value. The sale enabled Grenergy to meet its asset rotation goals and fund future phases of the project, as well as other investments for 2023–2026.

Located across northern Chile’s Tarapaca, Antofagasta, and Atacama regions, Oasis de Atacama is one of the country’s largest renewable energy projects, bolstering Chile’s shift toward sustainable energy.

Source: renewablesnow.com