Grenergy acquires 1GW solar from Repsol, Ibereólica

Spain-based Grenergy has acquired a 1 GW solar portfolio from Repsol and Ibereólica, further expanding its Oasis de Atacama project in Chile. This acquisition, worth $128 million, will increase Oasis de Atacama’s solar capacity to 2 GW and boost its energy storage to 11 GWh, making it one of the largest hybrid solar-battery projects globally. The project will generate 5.5 TWh annually, enough to power a city the size of Madrid and reduce CO2 emissions by 1.4 million tons each year. The first phase of Oasis de Atacama is expected to be operational by the end of 2024, with the remaining phases completed by 2026. Grenergy has secured PPAs for the first four phases and is in advance negotiation for the remaining phases.