Verano lands $187M for Chile solar-plus-storage, a top-decile Canadian debt deal
What's the deal? Renewable-energy developer Verano EnergyDealroom has a profile for this one. Try Dealroom → has secured $187 million in senior secured green financing for its Observatorio solar and battery storage project in Chile. The financing, announced October 23, was arranged with Japanese bank MUFGDealroom has a profile for this one. Try Dealroom →.
Why it matters: At $187 million, the debt round ranks in the top 10% of Canadian debt deals of all time, based on 885 comparable transactions.
What's the endgame? Observatorio, in Marchigüe in the O'Higgins Region, pairs 123 MWp of solar capacity with a 120 MW/600 MWh battery system. Sungrow will supply the batteries and solar inverters, while the five-hour storage will improve dispatch flexibility. It is Verano's second utility-scale solar-plus-storage project in Chile, after Domeyko.
The wider picture: The same week, two other developers tapped debt for storage-backed renewables. India's Fourth Partner Energy secured US$101.9M from Tata Capital Cleantech Finance for a Maharashtra hybrid project combining 300 MWp of solar, 50 MW of wind, and 750 MWh of storage, with more than half its capacity already committed to corporate buyers.
Brazil's NeoenergiaDealroom has a profile for this one. Try Dealroom →, controlled by Iberdrola, signed a €150 million green loan with the European Investment Bank, guaranteed by Spanish export credit agency CesceDealroom has a profile for this one. Try Dealroom →, to modernise distribution grids in São Paulo and Mato Grosso do Sul. That follows a separate US$434.9M grid agreement for Bahia.
The signal: Financing is increasingly following dispatchable, storage-backed renewables rather than raw solar capacity. Across three continents, lenders are funding the batteries and grids needed to deliver clean power on demand — to corporate buyers and data centres alike.
Read more: greentechlead.com
Image credit: blmcalifornia
