DNV has supported Grenergy Renovables in securing financing for the Central Oasis solar and battery storage portfolio in Chile.
DNV said the portfolio comprises 398MW of solar PV capacity and 1.4GWh of battery energy storage systems located in the Maule and Bíobío regions.
The company added that the financing was arranged with international financial institutions including BNP Paribas as coordinating bank, alongside Santander and Rabobank.
DNV acted as market consultant and technical adviser, providing due diligence, power purchase agreement review and analysis of the battery storage operational strategy.
The Central Oasis portfolio is designed to store surplus solar energy and dispatch it during periods of low irradiation or high grid demand.
“Hybrid renewable projects combining solar and large-scale storage are essential to completing Chile’s coal phase-out and ensuring a reliable, low-cost power system,” said Brice Le Gallo, vice-president and regional director for Southern Europe, MEA & LATAM, Energy Systems at DNV.
“Our role was to provide the market clarity that lenders require to finance these complex assets with confidence.
“This project demonstrates that bankable, utility-scale storage is no longer a future concept: it is happening now in Chile.”