The financing has been fully underwritten by Banco Santander. The solar plant, already constructed, is currently in the commissioning phase. Additionally, Ayora already benefits from a 15-year power purchase agreement (PPA).
Financial closures
Grenergy has reached significant financing agreements during 2025. In September, Grenergy secured a senior non-recourse financing of $270 million for the sixth phase of the Oasis de Atacama megaproject, known as ‘Elena’, underwritten by an international syndicate of banks.
Earlier this year, Grenergy secured an additional $324 million for the fourth phase of the same project, known as Gabriela. In total, the company has now secured $1.237 billion in non-recourse financing for the entire Oasis de Atacama project.
Projects in Spain
In Spain, Grenergy has a pipeline of 3 GWh in hybrid battery storage projects, with Escuderos (Castilla-La Mancha) as its flagship: an installation that will combine 200 MW of solar generation with 704 MWh of storage capacity.
The company also has a portfolio of stand-alone battery projects totaling 5.7 GWh, including the Oviedo project (Asturias), which will have a capacity of 600 MWh and is scheduled to come online in early 2027.
