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Grenergy announces an investment of 800 million and 4.1 GWh in storage until 2026


Grenergy has announced its growth plans at its first Capital Markets Day held this Monday, in which it has announced an investment of 2.6 billion euros until 2026 that will be distributed between the development of its portfolio of photovoltaic projects (1.5 billion) and the boost to battery storage (800 million). Along these lines, it has announced its new three-year installed capacity objectives, setting its gross installed solar capacity for 2026 at 5 GW, while its renewable energy storage capacity has increased to 4.1 GWh. And for the first time it has announced its Ebitda (Gross Operating Result) target, which will be 300 million by 2026.


Specifically, Chile will be key to the company's growth in the storage field. Grenergy has begun construction in the north of the country of the project known as Oasis de Atacama, the largest in the world with a capacity of 4.1 GWh and 1 GW solar. Grenergy will invest in this initiative, which is divided into five phases, a total of 1.4 billion dollars. It is scheduled to come into operation in phases over the next 36 months, helping to improve grid stability and decarbonize the economy. Currently, the company - with a presence in eleven countries across its three main regions (Latin America, Europe and the United States) - has a 15.5 gigawatt (GW) platform in various stages of development and has successfully sold a total of 1.1 GW.


Precisely, last week the company announced its first long-term overnight sales contract to supply more than 8 terawatt hours (TWh) of green energy to the Chilean company EMOAC (subsidiary of COPEC, the main fuel distribution company in the country ) for a period of 15 years. With this project, it becomes one of the first companies in the world to sign a PPA that combines solar energy and storage projects. To date, the company has closed agreements for the sale of 2.8 TWh of energy through PPAs and a value of 2.7 billion euros in contracted revenue.

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