Clifford Chance advises on the sale of the fourth phase of the energy storage project Oasis de Atacama
Clifford Chance has advised Grenergy Renovables on the sale of the fourth phase of the Oasis de Atacama project, located in northern Chile, to funds under the management of CVC DIF, the infrastructure-focused private market manager of CVC.
This phase, named Gabriela, comprises 272 MW of installed solar capacity and 1,100 MWh of battery storage and represents 10% of the total Oasis de Atacama megaproject, the largest battery storage project (BESS) worldwide. The transaction could reach an enterprise value of up to $475 million, including earn-outs and financial adjustments.
Together with the transaction completed with ContourGlobal in December 2024—also advised on by Clifford Chance—this deal covers 33% of the original Oasis de Atacama project. Grenergy retains 1.2 GW of installed capacity and 7.3 GWh of storage, accounting for the remaining 67% of the project.
The firm team that advised on the transaction was led by Corporate / M&A partner Luis Alonso, counsel Javier Hermosilla and senior associate Juan Valcárcel.
