Enertis Applus+ solar consulting team in Chile has been working as Lender's Technical Advisor (LTA) conducting a Technical Due Diligence (TDD) report for the financing of the Quillagua project, which corresponds to phases 1 and 2 of the Oasis de Atacama project, the world's largest energy storage initiative property of Grenergy Renovables. It is a hybrid solar and energy storage project with 220MWp of solar capacity and 1.24 GWh of battery storage.
This Technical Due Diligence report included a comprehensive analysis of the project to verify that it complies with the required technical regulations and quality standards and to identify any other technical and economic risks. This analysis evaluated, among other aspects: the site characteristics, including solar irradiance levels, and climate data; the efficiency of the project design, as well as the characteristics of the main equipment, to ensure performance optimization; energy production estimates, as part of financial model review; permits and grid connection agreements.
With this operation, Grenergy Renovables has become the first company globally to sign financing of this size for a hybrid solar and battery project with a syndicate of international banks. Specifically, Grenergy Renovables has signed a USD 345 million green loan (equivalent to approximately EUR 322 million) with other complementary credit lines with the financial institutions BNP Paribas, Natixis Corporate & Investment Banking, Société Générale, The Bank of Nova Scotia and SMBC.
We proceeded with a duty of care to all these financial institutions, assisting Grenergy Renovables and the financial entities in verifying the project's technical soundness and feasibility.
Enertis Applus+ team of specialized solar services and energy storage consultants has worked on PV and BESS projects in more than 60 countries. We combine this global expertise in the industry with a deep knowledge of photovoltaic and BESS technologies and a solid commitment to our client's success.
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