Grenergy has secured $345 million in green financing for its Oasis de Atacama project, along with additional credit lines. The loan was provided by a group of international banks including BNP Paribas, Natixis Corporate & Investment Banking, Societe Generale, The Bank of Nova Scotia, and SMBC.
The project is situated in northern Chile, and is anticipated to provide electricity for over 145,000 households yearly. The project is expected to reduce carbon emissions by more than 146,000 tonnes. The financing covers the first two phases of the project, corresponding to 220 MWp of solar and 1.24 GWh of storage.
Furthermore, phase one of the project is scheduled to begin operations by the end of 2024, while the remaining phases will mostly be connected by 2025. With this, Grenergy becomes the first company to secure funding of this magnitude for a combined solar and battery project from an international banking consortium.
Grenergy Renovables is a Spanish company created in 2007 as an independent producer of energy from renewable sources, mainly solar and storage. The company has a global platform of more than 15 GW of solar in various stages of development in eleven countries where it operates in the European (Spain, Italy, Germany, Poland and the United Kingdom), North American (United States) and Latin American (Chile, Peru, Mexico and Colombia) markets.
