Engie starts up 251MW BESS projects in Chile, Grenergy sells fourth phase of Atacama solar-plus-storage complex

Engie has announced the start of commercial operation of the Libélula and Los Loros battery energy storage system (BESS) projects on Chile's National Electric System. Announced 28 August, the two projects collectively add 251MW of storage. Libélula, located in Colina and Tiltil about 40 kilometers north of Santiago, is Engie Chile's first energy project in the metropolitan region and its first hybrid project designed from the outset to combine solar generation and storage. Los Loros sits within the Los Loros Photovoltaic Park in Tierra Amarilla, Atacama Region.

The Libélula complex represents a total investment of US$320 million, of which US$219 million corresponds to BESS. Its BESS has a capacity of 203MW/1,034MWh across 208 lithium-ion battery containers with five-hour discharge autonomy, while the 140MW solar plant features 245,560 panels and is progressing through its COD process. Los Loros represents a US$64 million investment and has a capacity of 48MW/275.23MWh across 63 lithium iron phosphate battery containers. Separately, Grenergy completed the sale of Gabriela, the fourth phase of Oasis de Atacama, to infrastructure investor CVC DIF. Gabriela has 272MW of solar PV capacity and 1,100MWh of BESS, with an enterprise value of US$475 million.

The Gabriela transaction, combined with the December 2024 sale of the first phase to ContourGlobal, represents approximately 25% of the overall Oasis de Atacama project and an enterprise value of roughly US$1.5 billion. Grenergy will continue to provide operation and maintenance services for five years, and the project is backed by a 15-year hybrid power purchase agreement. The sale forms part of Grenergy's asset rotation strategy under its 2026–28 Strategic Plan, which aims to generate €800 million (US$926.8 million) in asset rotation proceeds. The company has also raised its investment target to US$4.28 billion through 2028.

What remains unclear is the timing of Libélula's full solar COD and how the broader Oasis de Atacama expansion to 7GWh will proceed. The dossier does not specify the buyer's operational plans for Gabriela beyond the O&M; arrangement, nor does it detail the remaining phases' financing or offtake structures. The evidence is drawn from a single secondary source, so independent confirmation of project milestones and transaction terms is not yet available.