Opdenergy secures $227 million financing for solar, battery storage portfolio in Chile

Opdenergy, a Madrid-based renewable energy developer, has secured $227 million in financing for a 371 MW operational portfolio of solar, wind and battery energy storage assets in Chile. The portfolio includes the 104 MWp Sol de Los Andes Solar project and the co-located 90 MW/513 MWh Sol de Los Andes BESS, both located in the Atacama region.

The financing was provided by Japan’s Sumitomo Mitsui Banking Corp. (SMBC), BNP Paribas and Spain’s Instituto de Crédito Oficial (ICO), according to Opdenergy.

The funded portfolio also includes the 50 MW La Estrella wind farm in the O’Higgins region and a 17 MW portfolio of solar plants in the Valparaíso region.

Opdenergy said the combination of solar, wind and storage assets allows it to provide electricity across different supply profiles and supports its strategy of adapting its portfolio to Chile’s changing power demand.

The company has operated in Chile since 2014 and currently has 371 MW of renewable capacity in operation in the country. It plans to add a further 748 MW of solar, wind and battery storage projects, with construction expected to begin within the next 12 months.

The planned pipeline includes the 95 MW Dañicalqui and 132 MW Vientos del Lago wind projects, the 235 MW Don Carlos solar project, and two battery storage projects: the 196 MW/1.2 GWh Don Carlos BESS in Atacama and the 90 MW/0.5 GWh Alcones BESS in O’Higgins.

Opdenergy CEO Luis Cid said the financing strengthens the company’s position in Chile by combining multiple renewable technologies across operating assets and diversifying revenue sources.

Opdenergy, which has been part of infrastructure investment firm Antin Infrastructure Partners since 2023, develops, builds and operates solar, wind and storage projects. The company has 2.5 GW of operational capacity across Europe, the United States and Latin America, with an 8 GW solar and wind development pipeline and 35 GWh of planned storage capacity.

From pv magazine LatAm