September 8, 2025: A unit of global private markets manager CVC is acquiring a large scale hybrid solar and battery storage project under construction in northern Chile.
CVC DIF, said on September 1 it had agreed to acquire the Gabriela project, which will comprise 272MW of installed solar capacity and 1.1GWh of battery storage, from Spanish multinational clean energy producer Grenergy.
Financial terms of the deal were not disclosed, but the move marks another significant step in global investment interest in the Chilean energy storage and renewables sector.*
Grenergy will continue as a partner in the project, which is backed by a 15-year US$-denominated, inflation-indexed hybrid power purchase agreement.
The partners said the project will also benefit from Chile’s supportive regulatory framework for storage investments.
CVC DIF already manages renewable energy assets totalling more than 7GW of installed capacity and several investments in BESS and multi-technology projects.
The Chile deal is set for completion in the first half of 2026.
Caine Bouwmeester, partner and co-head of DIF Infrastructure fund strategy and head of renewable energy of CVC DIF, said: “Gabriela will combine large-scale photovoltaic and battery storage to deliver reliable, clean energy and improve the resilience of the Chilean grid. This investment underlines our long-term commitment to the global energy transition.”
*Batteries International has been tracking increasing investment interest in the Chilean BESS market in recent months.
Last November, Grenergy said it had signed an agreement with China’s CATL for the supply of batteries for phase four of its 2GW/1GWh Oasis de Atacama project in Chile.
Earlier this year, China-based Trina Storage shipped the first 1.2GWh batch of its self-developed, containerized ‘Elementa 2’ LFP battery storage system to Chile, marking its largest overseas standalone BESS project.
In August global renewables group Zelestra confirmed it had secured a $282 million financial close to develop a 1GWh battery and solar ESS plant in Chile’s Atacama Desert region.
