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Friday, March 29, 2024

Grenergy signs two PPAs in Chile for its new solar farms in Gran Teno and Tamango

Grenergy has signed two PPAs with a major company in Chile for the long-term sale of approximately 240 GWh per year. In this way, it will sell part of the energy produced by its Gran Teno and Tamango solar farms to this international utility, as the company has informed the Spanish National Securities Market Commission (CNMV)

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The two photovoltaic plants that the listed company is building in Chile, Gran Teno, with 240 MWp, and Tamango, with 48 MWp, are scheduled to start operating in 2023 and will generate enough energy to supply 70,000 homes with electricity, saving 214,067 tonnes of CO2 per year.

Chile is one of the most important markets for Grenergy in Latin America. This is where it has installed its operations centre for Latin America, where the listed company already has a pipeline of more than 5.5 GW in different stages of development, including solar and wind projects. Half of these projects are located in Chile (2.8 GW), with more than 50 plants and 2.6 GWh of battery projects under development.

According to David Ruiz de Andrés, CEO of Grenergy: “This transaction demonstrates the company’s structure and capacity to close long-term power purchase and sale contracts and to boost our growth plans in a market as important to us as the Chilean market.”

Grenergy’s in-house legal team in this matter has been led by Pablo Abell and María Elosua.

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