Chile's Grenergy secures 15-year PPA for massive solar plus storage project

Spanish renewables company Grenergy Renovables has signed a 15-year power purchase agreement (PPA) for the fourth phase of its Oasis de Atacama solar-plus-storage development in Chile. The hybrid PPA will supply approximately 8 TWh of energy over the 15-year period, beginning in May 2026. The off-taker is an international utility with an investment grade credit rating. The Oasis de Atacama complex will have close to 1 GW of solar capacity and 4.1 GWh of battery energy storage systems. The fourth phase will consist of 260 MW of solar and 220 MW/1,100 MWh of energy storage, becoming operational at the end of 2025.

With this agreement, 75% of the project's output is now under PPAs. Grenergy previously signed a PPA with Chilean utility Emoac for part of the project's nightly production. China's BYD has also been signed as the supplier of 1.1 GWh of batteries for the first two phases of the project. Grenergy CEO David Ruiz de Andres called the project a "global benchmark in the sector."