Grenergy adds a new hybrid PPA in Chile to supply green energy for 15 years

With this agreement, it accumulates contracts worth 2.7 billion euros

Grenergy has signed a new hybrid long-term sales agreement (PPA) in Chile to supply green energy to an international utility with an 'Investment Grade' credit rating for a period of 15 years.

The company will provide, within the framework of the agreement, about 8 terawatt hours (TWh) over a period of 15 years, as announced this Wednesday by the firm, which has accumulated contracts worth 2.7 billion euros with this agreement.

The start of supply will occur in the second quarter of 2026, although the plant is expected to come into operation in 2025.

The agreement is part of Oasis de Atacama, in Chile, "the largest storage project" in the world with a total capacity of 4.1 gigawatt hours (GWh) and nearly 1 gigawatt (GW) of solar energy.

Likewise, the energy will come from the fourth phase, which has a photovoltaic generation capacity of 260 megawatts (MW) of solar energy and up to 1,100 megawatt hours (MWh) of storage.

This new milestone comes in addition to the company's announcement of its first long-term overnight sales contract for 2 GWh corresponding to the first three phases of Oasis de Atacama, a project in which Grenergy plans to invest up to 1,400 million dollars (1,288 million of euros), and that with this contract it would already have 75% of its energy closed with PPA.

"The achievement of milestones such as the signed PPAs, the BYD supply agreement or the financial structuring of the investment make possible the completion of Oasis de Atacama, a key project for the company, and which will be a global reference in the sector," as highlighted by the CEO of Grenergy, David Ruiz de Andrés.