Grenergy to expand 1 GW/4 GWh Solar and battery storage project in Chile

Grenergy has expanded the Oasis de Atacama project, with two new phases through the acquisition of 100% of 1GW solar, including a 1 GW energized line, from Repsol and Ibereólica.

Grenergy will invest US$128 million in this deal, enabling it to significantly expand the Oasis de Atacama project. The battery storage capacity will grow from 4.1 GWh to 11 GWh, while the solar PV generation capacity will double from 1 GW to 2 GW. The operation includes a 77 MW solar project, along with 923 MW of PV projects in different phases of development. Located in Chile, The solar and battery storage facility is expected to produce around 5.5 TWh of energy per year, which will be transferred to non-solar hours. This energy is equivalent to the annual consumption of a city like Madrid and will save around 1.4 million tons of CO2, which is equivalent to the consumption of 300,000 cars per year. 

The project's first phase is expected to be connected by the end of 2024, while the remaining phases will be connected mainly between 2025 and 2026. It recently reached the financial closing of the first two phases of Oasis de Atacama for US$345 million with BNP Paribas, Natixis, Société Générale, The Bank of Nova Scotia, and SMBC. For the supply of large-scale storage systems, it has concluded a strategic agreement with BYD.