Grenergy, presented its ambitious growth plans at its first ever Capital Markets Day. The core of these plans revolves around energy storage, which is crucial to achieving a greener, more sustainable future.
Grenergy’s ambitious investment plan
The company is set to invest a substantial 2.6 billion euros, including 1.5 billion euros to develop photovoltaic projects and 800 million euros to boost battery storage capacity. Grenergy’s portfolio boasts an impressive 15.5GW platform at various stages of development, with a successful sale of 1.1GW to date.
The decarbonization process
One of the strengths of Grenergy’s strategy is its commitment to decarbonization and renewable energies. Indeed, by 2026, the company aims to achieve gross installed solar capacity of 5 GW and renewable energy storage capacity of 4.1GWh.
Oasis de Atacama: A Milestone Project
The centerpiece of this effort is the Oasis de Atacama project in Chile, poised to become the world’s largest storage project, with a capacity of 4.1GWh and 1GW of solar power. However, this initiative represents an investment of $1.4 billion, divided into five phases, and should be implemented over the next 36 months. This will make a significant contribution to grid stability and the reduction of carbon emissions.
Pioneering solar energy and storage agreements
David Ruiz de Andrés, CEO of Grenergy, emphasized the unique conditions of the Atacama Desert, where the project is located, with its abundant solar radiation and favorable energy mix. This makes Chile a leading player in the development of energy storage.
Financial strength and asset rotation
In addition, Grenergy recently signed an innovative contract with EMOAC, a subsidiary of COPEC, for the supply of over 8TWh of green energy over 15 years. This is one of the world’s first power purchase agreements (PPA) combining solar power and storage projects, strengthening Grenergy’s position in the renewable energy market.
Financially, Grenergy’s asset rotation model has proved effective, with transactions such as the Valkyria project contributing to its solid financial position. The company plans to sell part of its developed capacity each year, with the aim of generating over 600 million euros by 2026.
Grenergy’s Capital Markets Day revealed a strategic roadmap focused on sustainable growth and decarbonization. Furthermore, with substantial investments in photovoltaic projects, battery storage and the Oasis de Atacama project, Grenergy is poised to play an important role in the advancement of renewable energies and the reduction of carbon emissions.
