Grenergy Sells $475 Million Solar-Plus-Storage Project
Spanish developer Grenergy has sold its 272 MW solar and 1,100 MWh storage project in Chile to CVC DIF for $475 million.
Spanish clean energy producer Grenergy has finalized the $475 million sale of its Gabriela solar and storage project in Chile. The buyer is infrastructure investment manager CVC DIF, completing a transaction first announced in September 2025.
The Gabriela project, now operational, combines 272 megawatts of installed solar photovoltaic capacity with 1,100 megawatt-hours of battery energy storage. It represents the fourth phase of Grenergy's massive Oasis de Atacama energy storage platform located in Chile. The deal's closing was triggered by the project entering commercial operation.
Project Financing and Structure
Construction of the Gabriela facility was funded through a $324 million green loan provided by a consortium of eleven international banks. Grenergy will continue to operate and maintain the assets for a period of five years following the sale. The project's revenue is secured by a 15-year hybrid power purchase agreement.
David Ruiz de Andrés, Grenergy's Chairman and CEO, stated the sale "highlights the quality of our assets and validates the success of the hybrid solar-plus-storage model we pioneered in Chile." He added that the company looks forward to continuing its partnership with CVC DIF on future projects.
The Oasis de Atacama Platform
Gabriela is a component of the broader Oasis de Atacama platform, which Grenergy is developing in phases. The entire platform is slated to have a total energy storage capacity of 14.1 gigawatt-hours. The sale of Gabriela follows Grenergy's earlier divestment of the platform's first phase to ContourGlobal, a KKR portfolio company, in December 2024.
Combined, the sales of the first and fourth phases account for roughly 25% of the total Oasis de Atacama platform. These two transactions have a combined enterprise value of approximately $1.5 billion.
Broader Market Context
The deal occurs within a surging market for energy storage project acquisitions. According to a Mercom India report covering the first half of 2026, project acquisition activity accelerated sharply. Approximately 14 gigawatts of battery storage capacity changed hands in 63 transactions during that period. This compares to 6.1 gigawatts transacted in 31 deals during the first half of 2025.
In a separate transaction noted in the source report, independent solar power producer Sonnedix acquired a 260 MW battery storage portfolio in Tuscany, Italy, from Sphera Energy in July 2026.
