CVC DIF acquires Gabriela solar and battery storage project in Chile from Grenergy for $475 million
Type: Sale · Technology: Hybrid · Country: Chile · Capacity: 272 MW · Value: $475M · Announced: 2026-09-02
Grenergy completed the sale of the Gabriela solar and battery storage project in Chile to CVC DIF for an enterprise value of $475 million. The operational project includes 272 MW of solar generation and 1,100 MWh of battery storage, representing the fourth phase of Grenergy’s Oasis de Atacama platform. The transaction followed the project’s commissioning and included a 15-year hybrid power purchase agreement, though the offtaker and commercial terms were not disclosed. Construction financing for the project totaled $324 million, provided by a syndicate of lenders including BNP Paribas, Natixis, Société Générale, and others. Grenergy will continue to provide operation and maintenance services for the project for five years post-sale, with David Ruiz de Andrés, Chairman and CEO of Grenergy, highlighting the deal as validation of the hybrid solar-plus-storage model pioneered in Chile.
Counterparties
- CVC DIF (Buyer)
- Rabobank (Lender)
- Scotiabank (Lender)
- BBVA (Lender)
- SMBC (Lender)
- NATIXIS (Lender)
- BNP Paribas (Lender)
- Grenergy (Seller)
- Bank of America (Lender)
- KfW IPEX (Lender)
- ICO (Lender)
- Société Générale (Lender)
- JPMorgan (Lender)
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