Grenergy has finalised a $355 million senior non-recourse financing facility for the Gran Teno, Tamango, and Planchón projects, which form part of its Central Oasis complex in Chile. The funding has been arranged through an international banking syndicate led by BNP Paribas as the coordinating bank, along with Banco Santander and Rabobank. The three assets together account for 398 MW of solar capacity and 1.4 GWh of battery energy storage system (BESS) capacity.
The transaction will enable the refinancing of existing solar plants and the hybridisation of Gran Teno, comprising 241 MW solar and 884 MWh BESS, and Tamango, comprising 49 MW solar and 158 MWh BESS, both of which are operational. Additionally, the financing will support the construction of the Planchón hybrid project, which includes 108 MW of solar capacity and 379 MWh of BESS. All three projects operate under long-term solar power purchase agreements, and surplus electricity will be commercialised through GR Power, the company’s energy trading subsidiary in Chile.
With this agreement, Grenergy’s total secured non-recourse financing for its Oasis platforms, including Oasis de Atacama in northern Chile and Central Oasis in the Maule and Bíobío regions, approaches $1.6 billion. The Central Oasis platform, designed with a planned capacity of 1.1 GW of solar and 4 GWh of storage, represents an estimated investment of $900 million and is expected to become operational during 2026 and 2027.
