Grenergy sells Gabriela solar-plus-storage project in Chile for $475 million

en.Wedoany.com Reported - Grenergy has completed the sale of the Gabriela solar-plus-storage project to CVC DIF, with an enterprise value of $475 million. Gabriela, the fourth phase of the Oasis de Atacama project, comprises 272 MW of photovoltaic capacity and 1,100 MWh of battery energy storage, and is now in commercial operation; the project's commissioning triggered the asset transfer conditions agreed between the parties in September 2025.

The Gabriela project was acquired by a fund managed by CVC DIF, backed by a 15-year hybrid power purchase agreement denominated in U.S. dollars and indexed to inflation. Grenergy will continue to provide operation and maintenance services for the asset for five years following the transaction's completion.

The project was financed with $324 million in green loans, with participating lenders including BNP Paribas, Natixis, Société Générale, Scotiabank, SMBC, Bank of America, BBVA, JPMorgan, KfW IPEX, Rabobank, and ICO.

Grenergy reached an agreement with CVC DIF in September 2025 for the sale of Gabriela, with the transaction's enterprise value capped at $475 million at the time, and the asset transfer conditioned on the project reaching its commercial operation date. Gabriela was still under construction when the agreement was signed; following the project's commissioning, the $475 million transaction has now been formally completed.

Oasis de Atacama is currently planned at approximately 2.5 GW of photovoltaic capacity and 14.1 GWh of energy storage. Gabriela accounts for 272 MW of photovoltaic capacity, 220 MW of battery power, and 1,100 MWh of storage capacity within that scope. Grenergy previously also sold the first phase of Oasis de Atacama to ContourGlobal, with the two transactions representing a combined enterprise value of approximately $1.5 billion.