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.
Related News
Actualize Solar has signed five long-term PPAs in 2024, advancing its 1.5 GW solar project portfolio across six US states. (Image Source: Businesswire)
Actualize Solar signs PPAs for 1.5 GW portfolio in 2024
Located in Enna and Catani a, the 242.78 MW solar plant was designed to produce 400 GWh annually, meeting the needs of 154,000 households. (Inage Source: Iberdola)
EIB, Iberdrola, and SACE partner for Sicilian solar plant
Scatec has secured EUR 25 million from IFU, alongside equity and non-recourse debt, for its USD 85 million project financing. (Image Source: Scatec ASA)
Scatec ASA begins 142 MW solar plant in Brazil
EliTe Solar launched its 5 GW PV project in Egypt’s TEDA Suez Zone, set to begin production by September 2025. (Image Source: PRNewswire)