Qualitas Energy secures $286 million for Chilean renewable portfolio

Qualitas Energy has closed a $286 million (approximately €257 million) non-recourse green financing package for its Qualitas Energy Fund V (QE V) portfolio in Chile. The financing covers a diverse range of assets totaling 259 MW of renewable generation capacity and 840 MWh of battery energy storage systems (BESS).

The portfolio includes eight assets across three technologies: 66 MW of operational run-of-river hydroelectric assets, a 154 MWp solar photovoltaic project integrated with 840 MWh of BESS, and 39 MW of onshore wind capacity. The solar and wind projects are currently under construction, with commercial operations expected to begin in 2028.

BNP Paribas and Banco Santander participated in the transaction. BNP Paribas served as the sole structuring bank, global coordinator, and green loan coordinator. Banco Santander acted as the administrative agent, joint lead arranger, and joint bookrunner. The financing structure includes senior non-recourse debt, letters of credit, and a line for VAT financing. The company noted that the portfolio is supported by long-term power purchase agreements (PPAs) with top-tier companies.