Grenergy has secured $355m in senior non-recourse financing for its Gran Teno, Tamango and Planchón hybrid solar-plus-storage projects in Chile.
The financing was arranged with an international banking syndicate led by BNP Paribas, with Banco Santander and Rabobank also participating.
According to Grenergy, the transaction will refinance the operational Gran Teno and Tamango assets and fund the construction of the Planchón project.
Gran Teno comprises 241MW of solar capacity and 884MWh of battery storage, while Tamango includes 49MW of solar and 158MWh of storage. Planchón will add a further 108MW of solar and 379MWh of storage to the company’s Central Oasis platform.
All three projects are backed by long-term power purchase agreements, with remaining volumes to be commercialised through GR Power, the company said.
Grenergy noted that it has now secured close to $1.6bn in non-recourse financing across its Oasis platforms in Chile.
The Central Chile platform envisages 1.1GW of solar and 4GWh of storage, with commissioning scheduled for 2026 and 2027. Central Oasis was created to replicate the hybrid solar-storage model first deployed at Oasis de Atacama.
The company said the success of its Chilean platforms supports plans to roll out similar hybrid projects in other markets, including Spain.
In Spain, Grenergy is advancing the Escuderos project in Castilla-La Mancha, planned at 200MW of solar and 704MWh of storage, and continues to develop Greenbox, its standalone European battery platform centred on the Oviedo plant.
Chief executive David Ruiz de Andrés said the financing underlines strong lender support for the company’s hybrid strategy.
“This operation reinforces the support of international banks for our hybridisation model, initiated in Oasis de Atacama and now extended with Central Oasis,” he said.
“In addition, it confirms our ability to execute, both in the development and signing of PPAs, as well as in terms of financing.”
