Grenergy Secures $345M for Oasis Atacama Project

Grenergy Renovables S.A (ES:GRE) has released an update.

Grenergy Renovables S.A. has secured non-recourse senior financing of approximately $345 million for the first and second phases of its Oasis Atacama project, which includes 220MWp solar power and 1.24 GWh of storage. The financing, provided by a consortium of international banks, will also help settle existing debt for the already operational Quillagua 1 solar plant. Additionally, the company has a 15-year PPA in place with EMOAC for the sale of energy, signaling strong future revenue streams.

For further insights into ES:GRE stock, check out TipRanks’ Stock Analysis page.