Grenergy will invest €3.5 billion to scale its solar-plus-storage portfolio and uninterrupted clean energy delivery plans
It has launched a storage focused European platform called Greenbox with 35 GWh pipeline
Chilean subsidiary GR Power will strengthen focus on supplying 24x7 solar energy supported by storage assets
Spain-headquartered clean energy producer Grenergy has announced €3.5 billion investment as part of its 2025-2027 strategic plan to focus on expanding solar-plus-storage portfolio with an aim to deliver round-the-clock (RTC) clean energy.
With its solar-plus-storage strategy focused on Central Chile and Spain, Grenergy aims to replicate the successful model of its Oasis de Atacama that will sport 2 GW solar and 11 GWh of storage capacity. It touts the project as the world’s largest energy storage initiative that’s scheduled to come online in 2027 with all of its 5 stages contracted under power purchase agreements (PPA).
Another pillar of its new strategy is storage as part of which it has launched the company’s new standalone battery platform in Europe called Greenbox with a pipeline of 35 GWh. This capacity is spread out as 7 GWh in Poland, 6.7 GWh in Romania, 6.4 GWh in Germany, 5.8 GWh in Italy, 4.6 GWh in Spain and 4.6 GWh in the UK.
Greenbox has been established to reach 3 GWh in operation and under construction by 2027, heralded by its flagship project Oviedo with 600 MWh capacity in Spain. Construction on site is targeted to begin in H1 2026.
Its Chilean power retailer GR Power will be able to supply uninterrupted 24x7 solar energy supply with the help of storage systems, as the 3rd pillar of the company’s new strategic plan. GR Power is focused on Chile’s unregulated customer market where it targets mining companies and data centers as target audience.
Recently, GR Power launched a call to seek offtakers for its Chile-based solar and energy storage projects (see Grenergy’s 1.7 TWh/Year Reverse Auction In Chile).
By 2027, Grenergy targets to reach 4.4 GW of installed solar capacity and 18.8 GWh of battery storage.
Between 2025 and 2027, Grenergy expects to generate €800 million out of which 50% is already secured or in advanced stages. By 2027-end, it projects the pro forma EBITDA for the energy segment to reach within €450 million and €550 million, to be driven by the integration of storage systems.
“To support this investment— focused on hybridization projects in Chile and storage initiatives in Europe —Grenergy is strengthening its asset rotation strategy. Following the early completion of its previous plan’s goals by two years, the company is setting more ambitious targets,” stated the management.