Grenergy secures $268m for Monte Águila hybrid plant in Chile

Spanish cleanable vigor shaper Grenergy has completed a $268m (€227.66m) elder non-recourse financing woody for its Monte Águila hybrid works successful Chile.

The project, which features 342MW of star capableness and 1.03GW-hours (GWh) of storage, forms portion of the Central Oasis platform.

The financing was provided by an planetary banking radical headed by BNP Paribas arsenic the coordinating bank, and including KfW IPEX-Bank, Coöperatieve Rabobank, Natixis and the Bank of Nova Scotia.

The transaction builds connected the non-recourse financings Grenergy antecedently secured for the Gran Teno, Tamango and Planchón hybrid plants, representing the archetypal 3 phases of the Central Oasis level successful Chile.

Overall, the institution has obtained astir $2bn successful non-recourse financing for its Oasis platforms, encompassing Oasis de Atacama successful bluish Chile and Central Oasis successful the regions of Gran Teno, Maule and Aysén.

The task features a 12-year daytime powerfulness acquisition agreement.

Additionally, a ample stock of the surplus vigor volition beryllium sold done Grenergy’s vigor trading subsidiary, GR Power.

Central Oasis is said to beryllium a strategical inaugural for Grenergy successful Chile, aiming for 1.1GW of star capableness and 4GWh of storage, with an estimated concern of $900m.

Expected to beryllium operational betwixt 2026 and 2027, the level intends to replicate the palmy hybrid exemplary utilized astatine Oasis de Atacama, noted arsenic 1 of the largest artillery platforms globally and the archetypal successful Latin America.

Grenergy plans to update its concern strategy done 2028 connected 27 May. This volition see caller hybrid projects arsenic good arsenic Greenbox, its autarkic level successful Europe.

Grenergy CEO David Ruiz de Andrés said: “Securing astir $2bn successful financing for our OASIS platforms successful Chile successful conscionable 18 months demonstrates the spot of our exemplary and our quality to execute large-scale projects. We present purpose to bring this occurrence to Europe.”

"Grenergy secures $268m for Monte Águila hybrid works successful Chile" was primitively created and published by Power Technology, a GlobalData owned brand.

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