Qualitas Energy has secured $286 million in non-recourse financing for a Chilean renewable energy portfolio comprising 259 MW of generation capacity and 840 MWh of battery energy storage. The eight-asset portfolio includes a 154 MWp solar project paired with battery storage, with the solar, wind and storage facilities scheduled to enter commercial operation in 2028.
The financing, provided by BNP Paribas and Banco Santander, covers all of Qualitas Energy’s Chilean assets held in Qualitas Energy Fund V (QE V). It combines the refinancing of operational facilities with funding for new projects under construction.
The portfolio comprises eight assets across three renewable energy technologies: 66 MW of operational run-of-river hydropower plants, a 154 MWp solar photovoltaic project incorporating a battery energy storage system (BESS) with 840 MWh of capacity, and 39 MW of onshore wind facilities.
The solar, wind and battery storage projects are under construction and are scheduled to begin commercial operations in 2028. Qualitas Energy has not disclosed the solar plant’s name or location, or the battery system’s power capacity in MW, which would be needed to establish its discharge duration at full power.
Structured as green financing, the package includes non-recourse senior debt, letters of credit facilities and a facility to finance value-added tax (VAT).
BNP Paribas acted as sole structuring bank, global coordinator and green financing coordinator. Banco Santander served as administrative agent, joint lead arranger and joint placement coordinator. Qualitas Energy was advised by White & Case and Philippi Prietocarrizosa Ferrero DU & Uría, while Milbank and SCLB Abogados advised the lenders.
Qualitas Energy said the portfolio has long-term power purchase agreements (PPAs) with corporate offtakers that provide contracted revenues to support the financing. The company has not disclosed the counterparties, contracted energy volumes, prices or agreement terms.
Qualitas Energy began operating in Chile in 2023, opening an office in Santiago and acquiring its first hydropower asset in the country. In July 2026, the company announced a tender for up to 517 GWh per year of electricity from its portfolio of small distributed generation projects (PMGD) and utility-scale assets in central Chile and the Coquimbo region. The tender covered physical and financial contracts, with baseload, solar and nighttime supply options and terms of 10, 12 and 15 years.
From pv magazine LatAm
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