en.Wedoany.com Reported - Spanish independent power producer (IPP) Opdenergy has secured $227 million in financing to support its operational renewable energy portfolio in Chile.

The financing is linked to a portfolio of solar, battery energy storage system (BESS), and wind projects in different regions of Chile, including the Sol de Los Andes solar plant (104 MWp) and Sol de los Andes BESS (90 MW/513 MWh) in the Atacama Region, the La Estrella wind farm (50 MW) in the O'Higgins Region, and a 17 MW solar project portfolio in the Valparaíso Region.

The lenders for the transaction include MBC, BNP Paribas, and the Spanish Official Credit Institute (ICO).

Opdenergy CEO Luis Cid stated that this financing marks a key milestone for the company's operations in Chile, helping to build a robust and profitable financial structure aligned with the company's direction. Opdenergy Country Manager for Chile Carlos Ortiz noted that the funds enhance the company's ability to continue driving reliable, cost-competitive clean energy development across Chile.

The company began operations in Chile in 2014 and currently has 371 MW of operational renewable energy projects, with 748 MW of installed capacity ready to begin construction next year.

In recent years, Chile's renewable energy capacity has grown rapidly, with solar PV and wind deployment expanding quickly. The Chilean Renewable Energy and Storage Association (ACERA) stated that this has led to significant curtailment, with over 6 TWh curtailed in 2025. According to ACERA, this has driven demand for storage capacity to support the country's grid and reduce curtailment, achieving some success. The organization said that without the expansion of storage, solar and wind curtailment would have reached 8 TWh last year, and that the technology has significantly slowed the year-on-year growth in curtailment compared to 2023 and 2024.