Carey and Clifford Chance advise Grenergy on $962 M sale
Clifford Chance and the Chilean law firm Carey advised Grenergy on the sale of the first three phases of Oasis de Atacama—the world’s largest energy storage project—to ContourGlobal, a KKR company. The deal, valued at approximately USD 962 million, marks a significant milestone in Chile’s renewable energy sector.
The operation involved the sale of 100% of the shares in the companies GR Chañar and Parque Fotovoltaico Nuevo Quillagua, as well as the transfer of credits between these companies and other entities within the Grenergy Group. This transaction allowed Grenergy to accelerate its asset rotation strategy originally targeted for 2026. It also marks ContourGlobal’s entry into the Chilean market, signaling its commitment to expanding its renewable energy portfolio.
The transaction covers three of the seven phases of the Oasis de Atacama project. These phases encompass a portfolio of three solar plants with a combined installed capacity of 451 MW of solar energy and 2.5 GWh of storage capacity. Together, they are projected to generate over 1.3 TWh of energy annually, contributing significantly to Chile’s clean energy goals.
The advisors
Legal advisory for the transaction was provided, on Carey’s side, by partners Felipe Moro, Cristián Figueroa, and José Tomás Hurley, alongside associates José Luis Enberg, Mateo Magasich, Borja Ochagavía, Felipe Reyes, and Agustín Domínguez. Clifford Chance’s team was led by partner Luis Alonso, with counsel Javier Hermosilla and associate Juan Valcarcel. The counterparty in the deal received advisory services from Morales & Besa.
