Spain-based project developer Grenergy said it has secured a long-term PPA for a large-scale solar-plus-storage project under development in Chile by an unspecified power utility with an investment-grade credit rating.

Grenergy said the PPA has a duration of 15 years and relates to the fourth phase of its massive 1 GW/4 GWh Oasis de Atacama solar-plus-storage project. The fourth phase of the project has a capacity of 260 MW/1,100 MWh.

Grenergy said it will supply close to 8 TWh to the utility during the aforementioned period, with supply beginning in the second quarter of 2026, “although the plant is expected to come into operation in 2025.”

The PPA follows the company's announcement of its first long-term PPA for 2 GWh corresponding to the first three phases of Oasis de Atacama. Grenergy plans to invest up to $1.4 billion in the project, and with this contract would already have 75% of its planned capacity closed under PPAs, is said.

Last week, Greenergy said it acquired 1.1 GWh of batteries for the Oasis de Atacama project, based on an agreement with BYD, for the first two phases of the storage-plus-solar project.