The Green Blog — Behind every major financing, there’s an even bigger team

Last week, Grenergy reached a new milestone: we secured our largest project financing to date, worth €460 million, for Algarrobal, the fifth phase of Oasis de Atacama, with 242 MW of solar capacity and 1.5 GWh of energy storage, and the Palmas cluster, comprising 21 distributed solar generation projects in Chile.

But what does it really take to finance a renewable energy project of this scale?

Long before the first solar panel is installed or a battery starts operating, a tremendous amount of work takes place across teams. Financial modelling, risk assessments, negotiations, contracts and, above all, collaboration.

That’s where our Structured Finance team comes in.

€460 million. 16 banks. And a whole lot of teamwork.

Through Project Finance, large-scale renewable energy projects can secure funding backed primarily by their expected future cash flows. This approach, often structured as non-recourse financing, is essential for developing capital-intensive solar and storage projects while supporting Grenergy’s long-term growth.

But financing a project of this scale is anything but a one-person job.

Behind every major financing transaction is a collective effort. From identifying opportunities and developing projects to assessing risks, structuring agreements and preparing assets for construction and operation, different teams across Grenergy bring their expertise and knowledge together to make it happen.

Development, Investment Analysis, Energy Management, EPC, Operations, O&M, Asset Management, Insurance, Legal and Structured Finance: all play an essential role. Alongside them are the 16 financial institutions and independent advisors who have supported us throughout this entire process.

The Algarrobal and Palmas financing reflects both the trust we’ve built with financial institutions and the shared knowledge and expertise behind every project.

Because the energy transition isn’t driven by technology alone. It’s also driven by the people who work every day to make it possible.

A huge thank you to our Structured Finance team and everyone who has been part of this achievement!

On to the next one! 🚀