Opdenergy Secures $227 Million Financing for 371 MW Operational Portfolio in Chile

Opdenergy has secured $227 million in project financing from Sumitomo Mitsui Banking Corporation, BNP Paribas, and Spain’s Instituto de Crédito Oficial for a 371 MW portfolio of operational renewable assets across Chile. The financing package, equivalent to approximately €194-199 million depending on exchange rate fluctuations, represents a milestone refinancing structure for the independent power producer’s Chilean operations, which date back to 2014.

The financed portfolio combines solar generation, wind power, and battery storage across multiple Chilean regions. Assets include the 104 MWp Sol de Los Andes Solar photovoltaic plant and the co-located Sol de Los Andes BESS system with 90 MW capacity and 513 MWh storage duration, both in Atacama region. The package also covers the 50 MW La Estrella wind farm in O’Higgins region and a 17 MW portfolio of smaller solar installations in Valparaíso region. The geographic and technological diversification enables the company to offer continuous 24/7 power generation profiles aligned with Chilean demand patterns. Revenue streams are secured through long-term power purchase agreements with distribution companies and private offtakers.

Opdenergy CEO Luis Cid characterized the transaction as a pivotal moment that establishes a robust financial structure supporting the company’s growth strategy. The operational asset base provides diversified income streams that strengthen financial stability and long-term growth prospects, according to company statements.

The financing arrives as Opdenergy prepares to commence construction on a substantially larger 748 MW multi-technology portfolio over the next twelve months. The expansion pipeline includes the 95 MW Dañicalqui and 132 MW Vientos del Lago wind farms in Ñuble and Los Lagos regions respectively, plus the 235 MW Don Carlos solar plant in Atacama. Battery storage figures prominently in growth plans, with the Don Carlos BESS project sized at 196 MW/1.2 GWh and the Alcones BESS at 90 MW/0.5 GWh, located in Atacama and O’Higgins regions. Combined, these two storage projects contribute 286 MW of power capacity and 1.7 GWh of energy storage to the pipeline.

Opdenergy operates 2.5 GW globally across Europe, the United States, and Latin America. The company maintains an 8 GW development pipeline in solar and wind projects, supplemented by 35 GWh of storage capacity. French infrastructure investor Antin Infrastructure Partners, which manages over €33 billion in assets, acquired control of Opdenergy through a public takeover bid in 2023.