By delivering renewable energy during nighttime hours under a long-term Power Purchase Agreement (PPA), Aurora addresses Chile’s dual challenge of grid reliability and decarbonisation, setting a benchmark for large-scale renewable projects in Latin America.
Supported by financing from Natixis CIB, BNP Paribas, and BCI, Aurora ranks among the largest hybrid renewable projects in Latin America. DNV supported the financial close by providing a full suite of market advisory and technical due diligence services, including revenue forecasting, PPA structure assessments, and battery dispatch optimisation. DNV’s insights, powered by their proprietary Power Analytics platform, gave lenders the independent validation needed to assess the project’s bankability and risk profile with confidence.
A long-term power purchase agreement to supply renewable electricity from the site has been signed by Chile’s Abastible company, which ordinarily specialises in Liquid Natural Gas (LNG). The project will supply power to Abastible for nighttime use. According to Zelestra, the project will supply around 600 Gwh of power annually, enough to supply 200,000 households. Zelestra is also carrying out engineering, procurement, and construction (EPC) services at the site.
The solar modules, power conversion units and PowerTitan 2.0 liquid-cooled batteries will be supplied by Sungrow.
Chile is racing ahead in its energy transition, already generating nearly 70 percent of its electricity from renewables - reaching its 2030 target years ahead of target. The country is utilising the world’s highest solar irradiance (in the Atacama Desert) with over 11 GW of installed solar capacity, accounting for over a fifth of the electricity output. The country is linking these resources to demand centres via a 3 GW transmission line, and targeting 5 GW of battery storage by 2030 to manage intermittency.
The Aurora project embodies this comprehensive critical infrastructure strategy, combining Chile's exceptional solar potential with cutting-edge storage to provide dispatchable renewable power. As the country pushes toward 80 percent renewables by 2030, such hybrid solutions, crucial for balancing the grid, are proving to be game-changers in making renewable energy systems both clean and dependable.
“DNV is proud to support Zelestra in unlocking financing for this landmark project” said Santiago Blanco, Executive Vice President and Regional Director for Southern Europe. “Middle East and Latin America at DNV, added:. Our data-driven approach demonstrates how tailored solutions can bridge the gap between ambitious climate targets and investable opportunities.”
By helping de-risk Aurora, DNV has contributed to setting a precedent for large-scale renewable investments in emerging markets - where innovation and credibility remain critical to accelerating the energy transition.
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