In a monumental step towards advancing Chile's clean energy future, Toesca Asset Management has successfully secured a $324.5 million financing package to boost the country’s renewable energy landscape. This strategic funding not only supports the development of a large-scale battery energy storage system (BESS) but also enhances solar infrastructure across Chile. This blog dives into the financial structure, planned developments, and the broader implications of this transformative deal.

At the heart of this development is a robust financing package anchored in Green Loan Principles. The $324.5 million funding includes a $239.5 million term loan, a $35 million liquidity facility, and up to $50 million in a letter-of-credit facility. This financial structure will back both greenfield energy projects and the refinancing of existing clean energy assets, ensuring a mix of innovation and stability. Through its infrastructure investment vehicle, Toesca Infraestructura II Fondo de Inversion, Toesca has launched T Power—a new independent power producer (IPP) dedicated to Chilean renewables. This milestone represents a pivotal moment in mobilizing private capital for long-term climate-friendly investments.

A significant portion of the financing will develop a 141 MW / 677 MWh greenfield BESS, designed to support Chile’s grid flexibility and resilience. Alongside this, funds will refinance a utility-scale 141 MW PV solar project, emphasizing the growing synergy between solar generation and storage capacity. Adding further depth, 18 PMGD small-scale solar projects totalling 121.1 MWp spread across Chile will also be refinanced. These distributed assets play a vital role in enhancing energy access and decentralization, helping Chile transition smoothly into a m

The blend of large-scale and distributed renewable assets marks a strategic shift towards strengthening Chile’s energy reliability. With energy storage becoming a cornerstone of sustainable infrastructure, this project demonstrates how utility-scale BESS can mitigate intermittency issues inherent to solar energy. For investors, this highlights a maturing market in Latin America where climate-aligned assets are gaining traction. Legal guidance from White & Case LLP ensures the deal’s compliance and strength, reinforcing investor confidence. This move positions Toesca and its subsidiary T Power as leaders in Chile’s decarbonization journey, offering a replicable model for other markets.

As Chile doubles down on its renewable ambitions, Toesca’s $324.5 million green finance deal stands as a testament to the power of strategic capital deployment. From grid-scale storage to distributed solar, these projects pave the way for a more resilient and greener energy future.

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