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Grenergy doubles its investments and strengthens its position in energy storage

Grenergy reported €86mn in EBITDA in the first half of 2025 and raised its investments to €421mn, supported by increased energy sales and major storage operations.

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Spanish renewable energy producer Grenergy closed the first half of 2025 with revenue of €438mn, up 128 % year-on-year. Earnings before interest, taxes, depreciation and amortisation (EBITDA) reached €86mn, marking a 176 % increase, while net profit stood at €35mn. This momentum was driven by a 33 % rise in electricity sales and strategic asset disposals in Latin America.

Asset rotation and targeted investments

Asset disposals related to the Oasis de Atacama project in Chile enabled Grenergy to reach a cumulative enterprise value of $1.437bn. This already covers 55 % of its asset rotation target for the 2025–2027 period. The latest transaction involved the sale of Phase 4, comprising 272 MW of solar capacity and 1.1 GWh of storage, to DIF Capital Partners for up to $475mn.

The proceeds allowed the company to double its investment level compared to the previous year. Capital expenditure (CAPEX) reached €421mn, mainly allocated to solar hybrid projects with storage (PV+BESS), contributing to the €3.5bn investment goal by 2027.

Deployment of storage capacity in Latin America

Grenergy secured $270mn in non-recourse financing for Phase 6 of the Chilean project, named Elena, which will install 3.5 GWh of battery capacity. The funding was arranged through an international banking syndicate, bringing the total non-recourse financing for the project to $1.237bn.

The Quillagua 1 and 2 units are already operational and integrated with on-site storage systems. The Víctor Jara plant is being connected to the grid. Additional phases are underway, reinforcing the site’s industrial continuity and Grenergy’s regional development strategy.

European expansion of the Greenbox platform

In Europe, Grenergy continues developing Greenbox, its stand-alone storage platform. The Oviedo site in Spain serves as the pilot project and is progressing on schedule.

In central Chile, the Central Oasis platform already holds long-term power purchase agreements. Construction of the Monte Águila plant, one of the largest in the region, is scheduled to begin on 9 October.

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