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Spanish developer Grenergy has extended the strategic agreement signed earlier this year with Chinese battery manufacturer BYD to supply its Oasis de Atacama project in Chile, which will feature the worlds largest battery energy storage system.
Following the signing of the supply contract for the first two phases of Oasis de Atacama for a total of 1.1 GWh, the Spanish company Grenergy Renovables has signed another agreement with the Chinese battery manufacturer BYD for the purchase of the batteries needed for the third phase of its solar energy plus storage project located in northern Chile.
The supply agreement now totals 3 GWh of battery energy storage capacity, making it BYD’s largest to date.
With a storage capacity of 4.1 GWh and nearly 1 GW of solar, Oasis de Atacama is divided into five phases. Currently under construction, the Quillagua connection - phase 1 - is scheduled to be commissioned at the end of 2024, while the next three phases will be connected during 2025.
The project, to which Grenergy will allocate up to 1.4 billion dollars, already has 75% of its energy contracted through several long-term power purchase agreements (PPA).
Grenergy announced in July that it had reached financial close on the first two phases of the Oasis de Atacama hybrid solar and battery storage project. It had signed a $345 million green loan with other complementary credit lines with financial institutions BNP Paribas, Natixis Corporate & Investment Banking, Societe Generale, The Bank of Nova Scotia and SMBC.
The company has now reached a new milestone with the signing of a new supply contract with BYD. This agreement covers a total of 537 MC Cube containers, which will be installed at the Víctor Jara project. They are scheduled to be delivered in the second quarter of 2025 and to begin operating that same year.
Under the agreement announced in January, the Chinese battery manufacturer is already supplying Grenergy with a total of 2,136 devices of its MC Cube ESS model. Phase 1 has recently passed the factory acceptance test (FAT) process, which certifies the correct functioning of the battery systems for shipment, the manufacturer said in a statement.
“The extension of this strategic agreement with BYD marks a key milestone in our expansion plans, driving storage projects on an unprecedented scale. We continue to consolidate our vision of a more efficient and sustainable energy system with a technology that responds to the current and future challenges of the sector,” said David Ruiz de Andrés, CEO of Grenergy. |
