Grenergy acquires 1GW solar PV and 1GW energised line in Chile

September 23, 2024
Facebook
Twitter
LinkedIn
Reddit
Email
Grenergy’s acquisition of a 1GW solar PV portfolio will double the Oasis de Atacama solar-plus-storage project’s PV capacity. Image: Grenergy.

Spanish independent power producer (IPP) Grenergy has acquired 1GW of solar PV capacity and 1GW of energised line in Chile.

Acquired from gas and oil giant Repsol and renewables developer Ibereólica, with an investment of US$128 million towards the acquisition, Grenergy aims to increase the size of its solar-plus-storage Oasis de Atacama project.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

The project is located in the Atacama desert, one of the regions with the highest irradiation levels in the world. The solar PV capacity will double from 1GW to 2GW, while the battery energy storage system capacity will more than double from 4.1GWh to 11GWh, potentially making it the ‘largest’ BESS project in the world.

The operation comprises a 77MW solar PV project and a combined solar portfolio of 923MW capacity in various stages of development. This is on top of a 1GW interconnection line that is already built and energized and will facilitate the connection process of the projects under development.

Built in several phases, the Oasis de Atacama plant’s first phase is expected to be connected by the end of 2024, while the remaining phases are to be connected between 2025 and 2026.

The Spanish IPP recently secured funding for the first two phases of the project for US$345 million with financial entities BNP Paribas, Natixis, Société Générale, The Bank of Nova Scotia and SMBC.

Furthermore, Grenergy has secured power purchase agreements for the first four phases of the project, while the remaining phases are in advanced negotiations, according to the company.

David Ruiz de Andrés, Executive Chairman of Grenergy, said: ‘This is just the first step of what is to come. Battery investments are going to multiply globally, and this project will allow us to be a benchmark in the sector’.

Read Next

October 24, 2025
The Saudi state-owned renewables developer Masdar has begun construction on a giant solar-plus-storage project in Abu Dhabi.
October 23, 2025
Spanish power electronics specialist Ingeteam has won a contract to supply inverters and control systems for European Energy Australia's 100MW Winton North solar-plus-storage project in northeast Victoria.
October 22, 2025
Ingeteam’s Mauro Rivola discusses the rapidly growing appetite for co-located solar and storage in Southern Europe.
October 21, 2025
Cypress Creek Renewables has achieved financial close on its 75MW Sundance solar-plus-storage project in Elbert County, Colorado.
October 21, 2025
Australia's solar-plus-storage sector gained momentum with 725MW of solar PV approvals advancing across New South Wales and Queensland.
October 20, 2025
Independent power producer (IPP) Atlas Renewable Energy has secured up to US$475 million in financing for a 357MW solar-plus-storage project in Chile.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 10, 2026
Frankfurt, Germany
Solar Media Events
March 24, 2026
Lisbon, Portugal