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
The Mockingbird Solar Center invests $500 million in renewable energy and creates 550 jobs in Texas. (Image Credit/Source: MarkStebnicki/Pexels)
Mockingbird Solar: Ørsted, TNC team up for 468 MW Texas project
The $529 million Vikings project supports grid stability by shifting daytime solar energy to meet peak demand periods. (Image Credit/Source: NadeemJafar/Pexels)
Arevon’s $529M vikings project brings 157 MW solar to CA
The dual-use project integrates agriculture under solar panels and floating aquaculture with energy storage. (Image Source: PRNewswire)
Trinasolar’s Vertex modules power 150 MW dual-use solar project
The Horsham project combines solar and battery storage, supporting grid stability and peak demand management. (Image Credit/Source: Atimedia/Pixabay)