Grenergy has closed a $268 million senior non-recourse financing agreement for the Monte Águila plant within its Central Oasis platform in Chile.
The company said the project has a solar capacity of 342MW and 1034MWh of storage and forms part of the Central Oasis platform.
It added that the financing was arranged by BNP Paribas as coordinating bank alongside KfW IPEX-Bank, Coöperatieve Rabobank, Natixis, and The Bank of Nova Scotia.
The transaction adds to previous non-recourse financings signed for the Gran Teno, Tamango, and Planchón hybrid plants in Chile.
Grenergy has secured close to $2 billion in non-recourse financing for its Oasis platforms, including Oasis de Atacama and Central Oasis.
The project includes a 12-year daytime power purchase agreement and will market a significant portion of remaining energy through GR Power.
Central Oasis has a planned total capacity of 1.1GW of solar and 4GWh of storage with an estimated investment of $900 million.
The platform is expected to become operational between 2026 and 2027.
“Securing nearly $2 billion in financing for our OASIS platforms in Chile in just 18 months demonstrates the strength of our model and our ability to execute large-scale projects. We now aim to bring this success to Europe,” said David Ruiz de Andrés, ceo of Grenergy.