ContourGlobal has acquired a portfolio of solar assets at Oasis de Atacama, the world’s largest battery energy storage system, for USD 962 million, with legal assistance from Freshfields and Morales & Besa.
UK-based power company ContourGlobal has successfully acquired a significant portfolio of solar assets located at Oasis de Atacama, known as the largest battery energy storage system globally. The acquisition, valued at approximately USD 962 million, was facilitated with the assistance of legal teams from Freshfields Bruckhaus Deringer across two offices and the Chilean law firm Morales & Besa. This strategic move underscores ContourGlobal’s commitment to expanding its renewable energy portfolio and enhancing sustainable energy solutions in Chile.
The Oasis de Atacama project represents a landmark development in energy storage solutions, facilitating the integration of renewable energy sources into the power grid. By implementing large-scale battery systems, the project aims to address the challenges of renewable energy variability. ContourGlobal’s acquisition of this prominent asset not only reinforces their position in the Latin American market but also reflects a growing trend towards sustainable energy advancements worldwide, particularly in countries rich with renewable resources like Chile.
In conclusion, ContourGlobal’s acquisition of the Oasis de Atacama solar assets for USD 962 million marks a pivotal step in the company’s efforts to strengthen its renewable energy initiatives. The partnership with esteemed legal professionals highlights the importance of strategic planning in large-scale energy investments. This deal demonstrates the increasing significance of energy storage systems in the transition to sustainable power solutions.
Original Source: www.latinlawyer.com
