Toesca Asset Management Advances Large-Scale 141 MW Battery Storage Project Integrated with Luz del Norte Solar Plant in Chile

The battery storage project comprises 144 battery containers distributed over 455 hectares alongside more than 1.5 million solar panels at the Luz del Norte site in the Atacama region. Operational since 2015, Luz del Norte has a 148 MW capacity and annually generates approximately 390 GWh, sufficient for around 174,000 households while reducing 185,000 tons of CO2 emissions. Complementing this, the T-Power portfolio includes Cóndor del Sol, a set of 17 distributed solar plants totaling 121 MW across central and southern Chile, producing roughly 250 GWh yearly under stabilized pricing regulated by the National Energy Commission.

The new BESS will store excess solar energy generated during daylight hours and dispatch it during night-time, improving supply flexibility, reducing energy spillage, and mitigating system congestion. The recent refinancing package includes a $239.5 million term loan, $35 million liquidity line, and $50 million credit facility, aligned with Green Loan Principles and participated in by SMBC, Natixis, BCI, and NinetyOne. This financial restructuring replaces existing debts for Luz del Norte and Cóndor del Sol, streamlining capital structure and supporting future growth and operational efficiencies.

Carlos Saieh, Toesca’s general manager and infrastructure director, emphasized the strategic importance of the BESS for Chile’s renewable infrastructure, positioning T-Power as a leading platform combining large-scale solar generation with innovative storage solutions. This project exemplifies Chile’s broader commitment to renewable energy expansion, grid modernization, and achieving carbon neutrality targets amid rising demands for energy stability and clean power integration.