Spain-based Grenergy, renewable energy company, completed the sale of three projects within Chile’s Oasis de Atacama energy storage facility to ContourGlobal, a KKR subsidiary, for up to $962 million. The deal accounted for 23% of Oasis de Atacama, the world’s largest energy storage facility. The sold projects—Quillagua 1, Quillagua 2, and Víctor Jara—had a combined capacity of 451 MW of solar power and 2.5 GWh of energy storage, with an expected annual energy generation of 1.3 TWh. The agreement included a five-year contract for operation, maintenance, and battery supply, facilitated by Grenergy’s strategic partnerships. The projects were under construction, with $643 million in green loans secured for financing, and backed by hybrid power purchase agreements (PPAs). Proceeds from the transaction supported Grenergy’s €2.6 billion (~$2.69 billion) strategic plan to expand global energy storage. Grenergy retained 1.5 GW of solar and 8.5 GWh of storage at Oasis de Atacama, set to produce 3.8 TWh annually upon completion by 2026.
ContourGlobal acquires Oasis de Atacama projects from Grenergy
Grenergy sold 23% of Oasis de Atacama, including 451 MW solar and 2.5 GWh storage, generating 1.3 TWh annually. (Image Credit/Source: SolarPanal355/Pixabay)
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