Grenergy has secured $457 million in non-recourse senior financing for a portfolio of projects in Chile with a total solar capacity of 446 MW and energy storage capacity of 1.8 GWh. The financing covers Algarrobal, the fifth phase of the Oasis de Atacama project, which has 242 MW of solar capacity and 1,480 MWh of energy storage, and the Palmas cluster, comprising 21 distributed generation solar projects with a combined capacity of 204 MW and 289 MWh of storage.
Algarrobal is supported by a 12-year hybrid power purchase agreement (PPA) starting January 1, 2028. All Palmas projects are currently operational, while six are being retrofitted with five-hour battery energy storage systems (BESS) adding 289 MWh of storage capacity. The financing was coordinated and underwritten by BNP Paribas, with participation from BBVA, J.P. Morgan Chase Bank, MUFG Bank, Santander, and The Bank of Nova Scotia.
In May 2026, Grenergy entered into a 20-year PPA with Georgia Power in US for the supply of renewable energy and associated renewable attributes under the Clean and Renewable Energy Subscription (CARES) 2023 programme. The agreement covers the entire output from the Beaver Creek hybrid project, which is estimated to generate approximately 400 GWh of energy annually.
