Monte Águila represents the fourth phase of Central Oasis to achieve financial close, following earlier non-recourse financing agreements signed in February for the Gran Teno, Tamango, and Planchón hybrid plants. The combined financing across Grenergy’s Chilean operations now approaches $2 billion, covering both Central Oasis in the Maule and Biobío regions and Oasis de Atacama in northern Chile. The company secured these debt packages over an 18-month period, reflecting accelerated execution on large-scale renewable infrastructure.
The Monte Águila project has secured a 12-year daytime solar power purchase agreement, with remaining generation to be marketed through GR Power, Grenergy’s Chilean energy trading subsidiary. Construction on the facility began in October 2025. In March, Grenergy signed a supply agreement with Chinese manufacturer BYD Energy Storage for 2.6 GWh of battery systems to be installed across Central Oasis.
The complete Central Oasis platform targets 1.1 GW of solar capacity paired with 4 GWh of storage, representing an estimated $900 million total investment. Commercial operations are scheduled for 2026 and 2027. The platform replicates the hybrid model Grenergy deployed at Oasis de Atacama, which the company describes as among the world’s largest battery platforms and the first of its scale in Latin America.
Chief Executive David Ruiz de Andrés stated the financing achievement demonstrates the business model’s strength and large-scale project execution capabilities, with European expansion now a strategic priority. The scheduled May 27 investor update will detail new hybrid developments and standalone storage projects under the Greenbox brand targeting European markets through 2028.
This article was curated and published as part of our South American energy market coverage.
