Grenergy Renovables Signs a PPA for its 241 MW Gran Teno Solar PV Project in Chile

• The listed company extends the contracted capacity of this solar PV project to 285 GWh/year for 12 years.
• Gran Teno is the company's largest solar PV project to date.
• Along with the already signed PPA, this offtaker will be provided with 280 GW per year and a total of 3.4 TWh.

Grenergy has signed a long-term power purchase agreement (PPA) to supply in Chile 140 GWh of electricity per year for a period of 12 years to an international utility company, with Investment Grade credit rating and presence in the Chilean market.

Grenergy will supply a total of 3.4 TWh from its Gran Teno solar PV plant once the asset, located in the province of Curicó (near Santiago de Chile), comes into operation. This announcement, which comes on top of the PPA already signed last year, would bring the annual contracted energy from this solar PV project to 285 GWh.

With a total capacity of 241 MW, Gran Teno is Grenergy's largest solar PV project to date. The infrastructure, which is expected to become operational in December 2023, will supply electricity to more than 136,000 households and save more than 147,000 tonnes of CO2 emissions per year.

The company has an extensive track record in the Chilean market, where it has connected more than 60 plants and it is a leading player. It is currently building 500 MW in this market and developing 3.3 GW between solar and wind and 4.0 GWh of battery projects.

High capacity to sign PPAs
This milestone highlights Grenergy's ability to sign important PPA contracts thanks to the company's solid capabilities. This is evidenced by the recent agreements reached with customers from various sectors, such as Galp, Amazon, LyondellBasell and Celsia. Grenergy currently has a total of 1.4 GW of long-term contracted capacity in Spain, Colombia and Chile, and is negotiating a further 1.5 GW in different markets.

"We are very proud that important multinationals from very different industries continue to choose us as a long-term partner to provide them with green energy and thus collaborate in the decarbonisation of the economy. This agreement underlines Grenergy's strength and boosts its growth in the key Chilean market," said Grenergy CEO David Ruiz de Andrés.