Clifford Chance advises Grenergy on the acquisition of a 1 GW solar portfolio in Chile from Repsol and Ibereólica

Clifford Chance has advised Grenergy, a listed renewable energy player specialising in the development, construction and management of solar, wind and storage projects, on the acquisition from Repsol and Ibereólica of a portfolio of solar projects in Chile, which comprises a 77 MWp operational project and 923 MWp of solar projects in different stages of development, with the aim of hybridising them with batteries.

This portfolio currently has a built and energised 1 GW interconnection line, which will facilitate the process of connecting the projects under development. The transaction amounted to approximately USD 128 million.

With this transaction, Grenergy will expand its Oasis de Atacama project with two new phases and will enable it to be increased by 1 GW of solar and at least 6 GWh of battery storage.

The Clifford Chance team advising on the transaction was led by Corporate / M&A partner Luis Alonso and counsel Javier Hermosilla, together with senior associate Juan Valcárcel.