Grenergy to acquire 1GW solar portfolio in Chile for $128m
Spain-based Grenergy Renovables plans to acquire a 1GW solar portfolio in Chile for $128 million from Repsol and Grupo Ibereolica Renovables. The deal includes a 77MW photovoltaic (PV) plant, 923MW of projects under development, and a 1GW operational interconnection facility. This acquisition will bolster the Oasis de Atacama solar-plus-storage project by adding two new phases, expanding it to a five-phase development across Chile’s Tarapaca, Antofagasta, and Atacama regions.
The project’s battery storage capacity will increase to 11GWh, up from the existing 4.1GWh, while the combined PV capacity will double from 1GW to 2GW. The first phase of the project is expected to be operational by the end of 2024, with additional phases coming online between 2025 and 2026. Power purchase agreements are already in place for the first four phases, with negotiations underway for the remaining capacity.
The Oasis de Atacama project is expected to generate 5.5 terawatt hours of renewable energy annually.