CVC DIF has finalized the acquisition of the hybrid solar-storage Gabriela project from Grenergy in northern Chile, following the facility's commercial operation date.

CVC DIF, the infrastructure arm of global private markets manager CVC, has completed the acquisition of the Gabriela project, a utility-scale hybrid solar-storage facility located in northern Chile. The seller, Grenergy, a Spanish clean energy producer, first announced the transaction in September 2025. The deal was structured to close only once the project reached its commercial operation date, a milestone now achieved.

Combined solar and battery capacity

The Gabriela project comprises 272 megawatts (MW) of installed solar photovoltaic capacity paired with 1,100 megawatt-hours (MWh) of battery storage. According to CVC DIF, the facility is backed by a 15-year, USD-denominated, inflation-indexed hybrid power purchase agreement (PPA). This type of solar-storage pairing echoes broader trends seen elsewhere in the sector, as shown by the rebound in US lithium-ion battery imports despite stacked tariff measures. The company also states that the project benefits from Chile's supportive regulatory framework for storage investments.

Strengthening CVC DIF's Chilean portfolio

Caine Bouwmeester, Partner and Head of Renewable Energy at CVC DIF, said the completion of Gabriela marks an important step for the company in Chile. He added that combining large-scale solar generation with battery storage will deliver reliable energy while enhancing the flexibility and resilience of the Chilean grid. Other markets are pursuing similar large-scale solar expansion trajectories, as illustrated by India's installation of a record 3 GW of open-access solar capacity.

The CVC DIF executive also said the firm was pleased with its partnership with Grenergy in bringing the project to completion. Gabriela now joins CVC DIF's global portfolio, which includes other energy infrastructure assets spread across several continents. The transaction illustrates how private asset managers structure their renewable energy acquisitions around precise operational milestones, such as the commercial operation date.