Chile's Opdenergy Closes $227 Million Financing for Renewable Energy and Energy Storage Portfolio

Opdenergy, an independent energy producer operating in Chile, has completed a $227 million financing agreement for its renewable energy and energy storage portfolio. The financing, announced on July 7, was led by Japanese multinational financial institution Sumitomo Mitsui Banking Corporation (SMBC), international bank BNP Paribas, and Spanish public bank Instituto de Crédito Oficial (ICO).

The $227 million financing is tied to renewable energy assets such as the 104 MW Sol de Los Andes Solar Power Plant in the Atacama region, the 90 MW/513 MWh Sol de los Andes energy storage system, the 50 MW La Estrella Wind Farm in the O'Higgins region, and a 17 MW solar energy portfolio in the Valparaiso region.

Opdenergy Chile, which began operations in 2014, has made a significant footprint in the country's energy market. In addition to its current 371 MW of operational capacity, the company has a diversified project portfolio of 748 MW, which is expected to come online over the next year. This portfolio includes the 95 MW Dañicalqui and 132 MW Vientos del Lago wind facilities in the Ñuble and Los Lagos regions, the 235 MW Don Carlos solar installation in the Atacama Region, and two energy storage projects: the 196 MW/1.2 GWh Don Carlos BESS in Atacama and the 90 MW/500 MWh Alcones BESS in O'Higgins.

Opdenergy received environmental approval for the Don Carlos project in 2025. The BESS section will be located next to the substation adjacent to the Don Carlos PV plant and is expected to come online in June 2027.

Chile held an energy auction in 2021, which was eight times oversubscribed. Opdenergy was among the successful bidders. Recently, independent energy producer Grenergy signed a 1 TWh nighttime power purchase agreement for its 3.5 GWh Elena BESS project in Chile.

Chile is having a strong year, particularly in terms of the deployment of renewable energy projects. Research firm Benchmark Mineral Intelligence reported in its May analysis that ContourGlobal brought online a 231 MW solar facility and a 1.3 GWh BESS in the Tarapacá region in May. June distribution figures will be even more significant, and Grenergy will open the Oasis de Atacama complex.

Source: Energy Storage News