Grenergy secures $324 million for Oasis de Atacama battery project

Grenergy has obtained $324 million in financing for phase four of its Oasis de Atacama project, named Gabriela. This phase includes 269 MW of solar capacity and 1.1 GWh of storage. 

Financing was provided by BNP Paribas, Natixis Corporate & Investment Banking, Société Générale, Bank of Nova Scotia, and SMBC.

The same institutions also financed the first three phases of the project, with a total investment of $643 million. The syndication of the first phase included additional lenders such as BofA, BBVA, and the Bank of China. In total, Grenergy has secured $967 million in financial closures for the project.

Grenergy recently sold the first three phases, representing 23 per cent of the project, to ContourGlobal, a KKR subsidiary, for up to $962 million. Additionally, in July 2024, Grenergy secured $345 million in green financing and credit lines from several international banks for Oasis de Atacama.