DNV has acted as market consultant on a USD325m financing package secured for T Power, the renewable energy platform managed by Chilean asset manager Toesca, enabling the build-out of large-scale storage and the refinancing of existing solar assets.
The financing will support construction of a 141MW/677MWh battery energy storage system (BESS) and refinance a co-located 141MW solar plant, alongside 18 PMGD (small distributed generation) solar sites with a combined capacity of 121MWp. The package was arranged with a group of international lenders including SMBC, Natixis and BCI, according to DNV.
DNV provided market consultancy services across the geographically diverse portfolio, spanning projects from the Atacama Desert in northern Chile to the Biobío Region in the south. Its scope of work included market due diligence, reviews of power purchase agreements and detailed analysis aimed at optimising the financial viability of the battery storage project.
“Securing financing for a multi-technology, multi-site portfolio requires deep market insight and a clear analysis of long-term revenue streams and risks,” said Brice Le Gallo, regional director for semela, energy systems at DNV. He added that DNV’s advisory services helped Toesca and its financing partners navigate the complexity of the transaction, underlining the role of strategic storage deployment in maximising Chile’s renewable energy potential and supporting the country’s climate ambitions.
