Spanish IPP Opdenergy has secured US$227 million to support its operating renewable energy portfolio in Chile.
The funding is linked to a portfolio of solar, battery energy storage system (BESS) and wind power projects across different regions of Chile. It includes the Sol de Los Andes Solar plant (104MWp) and Sol de los Andes BESS (90MW/513MWh) located in the Atacama region, the La Estrella Wind farm (50MW) in the O’Higgins region and a 17MW solar portfolio located in the Valparaiso region.
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Lenders for the transaction included MBC, BNP Paribas and ICO.
“This transaction represents a major milestone for Opdenergy in Chile, as it consolidates a resilient and profitable financial structure aligned with the company’s strategy,” said Luis Cid, CEO of Opdenergy.
Carlos Ortiz, Opdenergy’s country manager for Chile, said the funding “strengthens our capacity to keep developing reliable, competitive clean energy across the country.”
The company began operating in Chile in 2014 and has 371MW of operational renewable energy projects backed up by 748MW of capacity which it said is ready to begin construction in the next year.
Chile’s renewable energy capacity has grown quickly in recent years, with rapid expansions in solar PV and wind deployments. This has led to significant output curtailment, which hit over 6TWh in 2025 according to the country’s renewable energy and energy storage association (ACERA).
This has driven demand for energy storage capacity to support the country’s grid and reduce curtailment, with some success, according to ACERA. The group said that without the expansion of energy storage, curtailment of solar and wind would have hit 8TWh last year, and the technology significantly lessened the year-on-year rise in curtailment compared with 2023 and 2024.
