Grenergy Secures €228 Million Financing for Central Oasis Solar and Storage Platform in Chile

Spanish renewable energy company Grenergy has secured €228 million in senior non-recourse financing, including credit facilities, for the Monte Águila plant in Chile, a hybrid project combining 342 MW of solar capacity with 1,034 MWh of battery storage.

The financing was arranged with an international banking syndicate led by BNP Paribas as coordinating bank, alongside KfW IPEX-Bank, Rabobank, Natixis and The Bank of Nova Scotia. The transaction adds to previous non-recourse financings already closed for Gran Teno, Tamango and Planchón, the first three phases of the Central Oasis platform in Chile.

Central Oasis is one of Grenergy’s most important strategic bets in Latin America. The platform is expected to reach 1.1 GW of solar capacity and 4 GWh of storage, with an estimated investment of €765 million. Its development reinforces Chile’s position as one of the most advanced markets in the region for renewable energy integration and large-scale battery storage.

The Monte Águila project also includes a 12-year daytime power purchase agreement, while a significant share of the remaining energy will be marketed through GR Power, Grenergy’s energy trading subsidiary in Chile. This structure gives the company long-term revenue visibility while preserving flexibility to capture market opportunities.

For Grenergy, the new financing confirms strong investor and lender confidence in its hybrid solar-plus-storage model. The company has now secured close to €1.7 billion in non-recourse financing for its Oasis platforms in Chile, including Oasis de Atacama in the north and Central Oasis across the regions of Gran Teno, Maule and Aysén.

The relevance extends beyond Chile. As Europe accelerates its energy transition and seeks models that combine renewables with storage, Grenergy is using Latin America as a large-scale execution platform. Its experience in Chile could become a reference for future projects in Europe, where the company is also preparing Greenbox, a stand-alone storage platform.

The timing is significant. Battery storage is becoming essential to stabilize renewable energy systems, manage intermittency and deliver clean power beyond peak generation hours. In markets with strong solar resources, such as Chile, hybrid platforms can improve grid reliability and create more competitive energy supply.

Grenergy’s expansion also highlights the growing flow of European capital, technology and project finance into Latin America’s clean energy sector. As demand for renewable infrastructure increases, Chile continues to attract international developers looking for scale, regulation and bankable projects.

Grenergy’s €228 million financing for Central Oasis reinforces Chile’s role as a renewable energy hub and shows how European clean energy companies are using Latin America to scale solar and battery storage models with global relevance.