Spanish independent power producer Grenergy has secured US$457 million of non-recourse senior financing for a 446 MW solar-plus-storage portfolio in Chile. PV Tech reports that the financing covers the fifth phase of Oasis de Atacama, called Algarrobal, and the separate Palmas cluster.
Key capacity and revenue data
Algarrobal comprises 242 MW of solar PV and 1,480 MWh of BESS and is backed by a 12-year hybrid power purchase agreement expected to begin in 2028. Palmas comprises 204 MW of solar and 289 MWh of BESS across 21 distributed-generation projects. The financing was coordinated by BNP Paribas with an international bank group.
Procurement impact
The transaction links equipment demand to bankable revenue structures rather than capacity announcements alone. Developers and suppliers should examine PPA-backed dispatch obligations, battery duration, augmentation assumptions, lender diligence, warranty security and delivery interfaces. The separate cluster also shows why distributed projects may need repeatable logistics, controls and service processes across many sites.
Source: PV Tech report, published 9 October 2026.