Grenergy has signed two agreements for the sale of long-term energy (PPA, for its acronym in English) for two photovoltaic solar energy projects in Chile, the company informed the National Securities Market Commission (CNMV).

The agreement has been signed with an international ‘utility’ present in the market, to which the renewables group will supply approximately 240 gigawatt hours (GWh) per year with a duration of 12 and 15 years, starting in June and July 2024.

Specifically, this agreement has been signed for the photovoltaic solar energy projects of Gran Teno (240 MWp) and Tamango (48 MWp), located in the central region of Chile.

The parks are expected to come into operation during 2023, and it is expected that they will generate enough energy to supply electricity to 70,000 homes, with savings of 214,067 tons of CO2 per year.

Chile is one of the most important markets for the company in Latin America, a country where it has its operations center for Latin America, where the listed company already has a pipeline of more than 5.5 gigawatts (GW) in different stages of development between solar and wind projects.

Of these, half correspond to projects located in Chile (2.8 GW), with more than 50 plants and 2.6 GWh of battery projects under development.

Globally, Grenergy’s total solar and wind pipeline now reaches 13 GW in a total of eleven markets spread across Europe, the United States and Latin America. Of these, 1.4 GW is already in operation and construction projects.

The CEO of Grenergy, David Ruiz de AndrĂ©s, considered that this operation “demonstrates the company’s structure and capacity to close long-term energy purchase agreements and to promote our growth plans in a market as important to us as It’s the Chilean.”