This new transaction adds to the non-recourse financings previously signed by Grenergy for the development of the Gran Teno, Tamango, and Planchón hybrid plants, which make up the first three phases of the Central Oasis platform in Chile.
In total, the company has secured close to $2 billion in non-recourse financing for its Oasis platforms, which include: Oasis de Atacama in northern Chile and Central Oasis across the regions of Gran Teno, Maule, and Aysén.
The project also has a 12-year daytime power purchase agreement (PPA). In addition, a significant portion of the remaining energy will be marketed through GR Power, Grenergy’s energy trading subsidiary in Chile.
Central Oasis represents one of Grenergy’s key strategic bets in Chile, with a planned total capacity of 1.1 GW of solar and 4 GWh of storage, and an estimated investment of $900 million.
The platform, expected to become operational between 2026 and 2027, was conceived to replicate the successful solar and storage hybrid model developed by Grenergy at Oasis de Atacama, one of the world’s largest battery platforms and the first of its kind in Latin America.
On 27 May, Grenergy will update its investment plan through 2028, including new hybrid projects as well as Greenbox, its stand-alone platform in Europe.
“Securing nearly $2 billion in financing for our Oasis platforms in Chile in just 18 months demonstrates the strength of our model and our ability to execute large-scale projects” said David Ruiz de Andrés, CEO of Grenergy. “We now aim to bring this success to Europe.”
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