Grenergy closes the green financing of two 300 MW solar parks in Chile for 136 million euros

MADRID, 3 Jul. (EUROPA PRESS) -

Grenergy has closed the green financing for the construction of the Gran Teno and Tamango solar parks, both located in Chile and with a combined peak power of about 300 megawatts (MW), for 148 million dollars (136 million euros), according to The company reported this Monday.

The operation, which has been signed with the French banks BNP Paribas and Société Générale, is a green loan and also includes other complementary credit lines, Grenergy explained, adding that this transaction has been structured in such a way that its funds will be used to finance renewable energy projects.

The Gran Teno solar park is located in the province of Curicó, Maule region, in Chile, and has a capacity of 241 megawatts (MW) and an estimated annual production of 477 gigawatt hours (GWh). It is scheduled to come into operation in December 2023.

For its part, the Tamango solar park is located in the province of Linares, Maule region, in Chile, and has a capacity of 48 megawatts (MW) and an estimated annual production of 97 gigawatt hours (GWh). It is expected to come into operation in the first quarter of 2024.

The joint generation of both plants, currently under construction, will provide electricity to 164,611 homes and save 176,907 tons of carbon dioxide per year.

Likewise, as Grenergy announced last week, the sale of energy will be carried out within the framework of the long-term energy sale contract (PPA) with an international utility company for a period between 12 and 15 years.

The company's financial director (CFO), Emi Takehara, has stated that this new step demonstrates Grenergy's position "as a benchmark in green financing and confirms the support of international banks for the company."

There are already more than 60 plants that the Spanish company has connected in Chile in recent years, this country being its main market.