Spanish clean energy producer Grenergy has closed a $268 million senior non-recourse financing agreement for the Monte Águila solar and energy storage project in Chile.

The financing includes credit facilities and was led by BNP Paribas as the coordinating bank. KfW IPEX-Bank, Coöperatieve Rabobank, Natixis, and The Bank of Nova Scotia also participated in the transaction.

The Monte Águila project has 342 MW of solar capacity and 1,034 MWh of energy storage. It is part of Grenergy’s Central Oasis platform in Chile.

The transaction follows non-recourse financing agreements Grenergy previously signed for the Gran Teno, Tamango, and Planchón hybrid plants, which make up the first three phases of the Central Oasis platform.

Grenergy said it has secured nearly $2 billion in non-recourse financing for its Oasis platforms. These include Oasis de Atacama in northern Chile and Central Oasis across the Gran Teno, Maule, and Aysén regions.

The Monte Águila project also has a 12-year daytime power purchase agreement. Grenergy said a significant portion of the remaining energy will be marketed through GR Power, its energy trading subsidiary in Chile.

Central Oasis is planned to have 1.1 GW of solar capacity and 4 GWh of energy storage. The company estimates total investment in the platform at $900 million.

The platform is expected to become operational from 2026 to 2027. Grenergy said Central Oasis was conceived to replicate the solar-storage hybrid model developed at Oasis de Atacama.

In February, Grenergy closed a $355 million senior non-recourse financing agreement for its Gran Teno, Tamango, and Planchón projects, which together contribute 398 MW of solar capacity and 1.4 GWh of battery energy storage capacity to the Central Oasis platform in Chile.

According to Mercom’s recently released Q1 2026 Solar Funding and M&A report, announced large-scale solar project funding increased by 61% in Q1 2026 compared with the funding raised in the same period in 2025.