The Spanish renewable project developer Grenergy has announced the acquisition of a 1 GW solar portfolio in Chile from Spanish renewable energy companies Repsol and Iberéolica to increase its Atacama Oasis solar+storage project. The 1 GW of solar capacity includes projects in different development phases, which will allow Grenergy to double the solar capacity of its Atacama Oasis project from 1 GW to 2 GW and to increase its battery storage capacity from the originally planned 4.1 GWh to 11 GWh. Grenergy plans to invest US$128m in the project, which will now have two more developing phases to eventually produce about 5.5 TWh/year. The first phase of the project is expected to be completed by the end of 2024, while the remaining phases should be completed between 2025 and 2026. The company has already signed power purchase agreements (PPAs) for the first four development stages. 

Grenergy, founded in 2007, plans to invest €2.6bn globally through 2026 to increase its renewable energy and storage capacities. So far, the company has a 15.9 GW in solar projects and 21.7 GWh in storage capacity around the world.