CVC DIF has agreed to acquire a utility-scale hybrid solar photovoltaic (PV) system with battery energy storage system (BESS) project in Chile from Grenergy for an unspecified sum.
The project is currently under construction in Northern Chile and comprises 272MW of installed solar PV capacity and 1,100MWh of battery storage.
The project, supported by a 15-year inflation-indexed hybrid power purchase agreement, is expected to be transferred after its commercial operation date, which is expected in the first half of 2026.
Caine Bouwmeester, partner, co-head of DIF infrastructure fund strategy and head of renewable energy of CVC DIF, said: “We are very pleased to partner with Grenergy on this exciting project in Chile’s renewable energy sector.
“Gabriela will combine large-scale PV and battery storage to deliver reliable, clean energy and improve the resilience of the Chilean grid. This investment underlines our long-term commitment to the global energy transition.”
David Ruiz de Andrés, CEO of Grenergy, said: “This transaction reflects the value and deep expertise in our hybridisation model, as well as the ability to bring in high quality investment partners.
“We’re delighted with the agreement with CVC DIF and proud to partner on this important project, and look forward to future projects together.”
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