Spanish independent power producer (IPP) Grenergy has begun construction on a 340MW solar project with 960MWh of energy storage in El Cabrero, located in Chile’s Biobío region.
With an investment of US$264 million, the project forms part of the Central Oasis platform, which encompasses 1.1GW of solar capacity and 3.8GWh of energy storage. The platform is expected to begin operations in early 2027.
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The five-phase project already has power purchase agreements (PPAs) secured for all stages, including a landmark baseload PPA with Codelco, Chile’s state-owned copper company, marking the country’s first 24/7 renewable energy supply deal.
Grenergy aims to replicate the model used for it’s Oasis de Atacama project in Chile, with a projected capacity of 2GW and 11GWh of storage. According to the firm, the success of its Atacama and Central Oasis platforms in Chile will lead new wave of hybrid projects in other markets, including Spain.
As part of its 2025-2027 strategic plan, Grenergy will replicate its Chilean hybrid model at Spain’s 200 MW Escuderos plant and advance its Greenbox battery platform in Oviedo.
Founded in 2007, Grenergy operates across three core regions, including Europe (Spain, Italy, Germany, Poland, Romania, and the UK), North America (US), and Latin America (Chile, Peru, Mexico, and Colombia). The company’s global portfolio includes more than 12.5GW of solar capacity and 77.9GWh of energy storage across various stages of development.
PV Tech’s publisher Solar Media will host the 4th annual Energy Storage Summit Latin America in Santiago, Chile, 14-15 October 2025. This year’s events bring together Latin America’s leading investors, policymakers, developers, utilities, network operators, EPCs and more, to discuss the role of storage in the Latin American energy landscape and how best to leverage the region’s resources. Visit the official site for more info.
