Spain-based clean energy producer Grenergy has finalised a $355m (€298.76m) senior non-recourse financing arrangement to support its Central Oasis platform in Chile.
The funding will benefit the Gran Teno, Tamango and Planchón hybrid plants, part of the Central Oasis platform. These facilities provide 398MW of solar capacity and 1.4 gigawatt-hours (GWh) of storage.
An international consortium of banks, headed by BNP Paribas as the coordinating bank and including Banco Santander and Rabobank, has provided the financing.
This arrangement allows Grenergy to refinance its current projects, hybridise the existing Gran Teno and Tamango plants, and finance the construction of the Planchón hybrid project.
Each project is supported by long-term solar power purchase agreements (PPAs), with any surplus energy set to be sold through Grenergy’s energy trading subsidiary, GR Power.
This transaction brings Grenergy closer to securing approximately $1.6bn in non-recourse financing for its Oasis platforms, including Oasis de Atacama in northern Chile.
The Central Chile platform, expected to become operational between 2026 and 2027, has a planned capacity of 1.1GW of solar and 4GWh of storage.
This initiative continues the model first implemented in Oasis de Atacama, one of the largest battery platforms globally and a pioneering venture in Latin America.
Grenergy's strategy includes expanding its hybrid model into other markets such as Spain.
As part of its 2025–27 strategic plan announced at its recent Capital Markets Day in London, Grenergy is advancing the deployment of the Oasis model at the Escuderos plant in Castilla-La Mancha.
Concurrently, Grenergy is also progressing with the development of Greenbox, a stand-alone battery platform in Europe. The Oviedo plant in Spain will stand as the flagship project for Greenbox.
Grenergy CEO David Ruiz de Andrés said: “This transaction strengthens the support of international banks for our hybridisation model, first initiated at Oasis de Atacama and now extended with Central Oasis.
“It also confirms our execution capabilities, both in the development and signing of PPAs and in project financing.”
Last month, Grenergy secured capacity contracts for five independent storage projects in Poland, totalling 2.1GWh.
