DNV has been a key player in obtaining financial backing of USD 325 million for T Power, the renewable energy platform managed by Toesca. This operation, supported by international entities such as SMBC, Natixis and BCI, enables the development of one of the largest battery energy storage systems in the world. battery energy storage systems in the country and consolidates a portfolio of solar projects that are key to the country’s decarbonization.
The BESS system as the backbone of energy storage
The financing will allow for the implementation of a 141 MW/677 MWh BESS system, along with the refinancing of a photovoltaic plant photovoltaic plant utility-scale photovoltaic plant and 18 solar installations PMGD facilities totaling 121 MWp. This infrastructure will be deployed from the Atacama Desert to the Biobío Region, strengthening the stability of the electricity system and displacing carbon-intensive energy sources.
Toesca relied on DNV for the market assessment of this multi-technology, multi-site portfolio. The energy consulting firm conducted an in-depth analysis of the commercial and technical feasibility, reviewed power purchase agreements (PPAs) (PPAs) and implemented stabilized revenue models and price forecasts, providing crucial inputs for safe investment decisions.
Chile continues to position itself as a regional leader in clean energy. With more than 60% of its generation coming from renewable sources in 2025 and with a strong progress in the elimination of coal coal phase-outThe country faces challenges such as energy shortages (5 TWh in the first 11 months of 2025). Storage solutions such as the one promoted by T Power are essential to absorb solar and wind surpluses and ensure a reliable matrix towards carbon neutrality by 2050.
Robust legal and institutional support
The financial closing was achieved with the legal support of White & Case LLP and Claro & Cía. on behalf of the developer, and Milbank LLP and Barros & Errázuriz on behalf of the lenders. This scheme demonstrates how the synergy between technical, legal and financial advice can make critical infrastructure viable in emerging markets.
The success of this operation strengthens the confidence of global investors in Chile’s green economy. It represents a clear example of how the strategic design of energy assets, combined with rigorous analysis, allows capital to be mobilized towards sustainable initiatives that generate real impact on emissions reduction and security of supply.
Source and photo: DNV