Spanish renewables developer Grenergy has reached financial close on the first two phases of Oasis de Atacama—set to become the world’s largest battery storage project.
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Located in northern Chile, Oasis de Atacama is expected to power more than 145,000 homes annually.
This financing covers the first two phases of the project, corresponding to 220MWp of solar and 1.24GWh of storage. The project will boast 4.1GWh of storage capacity once all five phases are completed.
Oasis de Atacama already has 75% of its energy contracted through various long-term power purchase agreements (PPAs), including the supply of green energy for 15 years to the Chilean company EMOAC.
Grenergy executive chairman David Ruiz de Andrés said, “This operation demonstrates the bank’s confidence in the hybridisation of solar plants with storage, and in Grenergy’s business model, which continues to make progress in becoming a world leader in storage.”
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Grenergy has a global platform of more than 15GW of solar in various stages of
development across Spain, Italy, Germany, Poland, the United Kingdom, the United States, Chile, Peru, Mexico, and Colombia.
