Grenergy boosts its Oasis platform in Chile with new funding of $268 million

 

The renewable energy company Grenergy has closed a senior non-recourse financing of 268 million for your hybrid plant Monte Águila en ChileThe transaction, signed with an international banking syndicate led by BNP Paribas As the coordinating bank, it consolidates the platform Central Oasis and its solar-storage hybridization strategy in Latinoamérica.

 

The project, which has a capacity of 342 MW solar and 1.034 MWh of storageThis represents a strategic step for the company in the Chilean market. This new transaction adds to the previous financing obtained for the plants in Gran Teno, Tamango y Planchówhich constitute the first phases of the platform Central Oasis.

 

Details of the financial transaction

 

The financing has been underwritten by a consortium of top-tier financial institutions, demonstrating market confidence in the business model of GrenergyThe banking syndicate includes:

 

• BNP Paribas (as coordinating bank)
• KFW IPEX-BANK
• Coöperatieve Rabobank
• Natixis
• The Bank of Nova Scotia

 

On the whole, Grenergy has managed to mobilize close two billion dollars in non-recourse financing for all of its platforms Oasiswhich encompass both Oasis de Atacama, in the north of Chileas the Central Oasis, located in the regions of Gran Teno, Maule y Aysé.

 

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Key Project and Platform Data

 

Concept/Figure/Data/Funded ProjectMonte ÁguilaFinancing amount: $268 million Solar capacity: 342 MW Storage capacity: 1.034 MWh Total estimated investment (Central Oasis$900 million Total planned capacity (Central Oasis1,1 GW solar and 4 GWh of storage

 

Strategy and future expansion

 

Platform Central Oasis, whose entry into operation is planned between 2026 and 2027, seeks to replicate the successful solar-storage hybridization model already developed by Grenergy en Oasis de Atacama, considered one of the world's largest battery platforms. Commercially, the project has a solar power purchase agreement (PPA) daytime for a period of 12 years, while the rest of the energy will be marketed through GR Power, a subsidiary of the company in Chile.

 

The company's vision does not stop at Latinoamérica. By David Ruiz de AndrésCEO Grenergy, “to secure nearly two billion dollars in funding for our OASIS platforms in Chile In just 18 months, it has demonstrated the strength of our model and our ability to execute large-scale projects. Now we want to take this success to Europa"In line with this strategy, the company plans to update its investment plan through 2028 on May 27, including new hybrid and other projects. Greenbox, its stand-alone storage platform in the European market.

 

 

Key points and frequently asked questions about Grenergy financing in Chile

 

How does this funding affect Spanish companies in the energy sector?

This operation consolidates Grenergy as a leading player in the development of complex energy hybridization projects globally. For Spanish businesses, it represents a success story that opens doors for suppliers, technology providers, and specialized consultancies wishing to participate in large-scale projects in strategic markets such as Chile. Furthermore, it validates a business model that can be exported to other regions, including Europa.

 

What is "non-recourse" financing and why is it relevant?

A financing “without recourse” (non-recourse financing) It is a type of project loan in which lenders can only use the assets and cash flows of the project itself to recover their investment, without being able to claim against the general assets of the parent company (Grenergy (in this case). Its relevance lies in the fact that it demonstrates the viability and intrinsic financial soundness of the project, since the banks assume a risk based exclusively on the plant's ability to generate income.

 

What opportunities does the solar-storage hybridization model in Chile represent for international business?

The hybridization model that combines solar energy with battery energy storage systems (BESS) is key to the decarbonization of electricity grids. ChileIn a market with high but intermittent solar radiation, these projects guarantee a stable and manageable energy supply. For international businesses, this represents an opportunity to invest in resilient infrastructure, provide grid stability, participate in capacity markets, and capitalize on the growing demand for 24/7 clean energy from industries such as mining.