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Grenergy has raised its 2028 investment target to €3.7 billion with a focus on hybrid project expansion in Europe
As part of the strategy, it has launched the Iberian Oasis hybrid solar-storage platform in Spain, while expanding its Chilean Oasis projects
Grenergy has also introduced GR Data, a Chile-based data center platform linked to AI infrastructure growth
Spanish clean energy producer Grenergy is deepening its focus on energy storage and hybrid renewable infrastructure, with a new €3.7 billion investment roadmap for 2028. Under the updated plan, the company expands its European battery platform and introduces a data center business in Chile.
The company said the updated investment plan includes €1.5 billion in 2028, focused on developing its Greenbox battery storage platform and Oasis solar-plus-storage projects.
Grenergy’s roadmap signals a strategic shift beyond solar generation, as the company increases investments in battery storage and launches a new data center platform tied to AI growth in Chile.
As part of the expansion, Grenergy has launched the Iberian Oasis project in Spain, a hybrid solar-and-storage platform with 1 GW of solar capacity and 3.2 GWh of storage. The project is designed to replicate the company’s Chilean hybrid renewable energy model in the Iberian market. This remains unchanged from its 2025-2027 strategic plan (see Grenergy Commits €3.5 Billion For Solar-Plus-Storage Strategy).
“Grenergy considers the Spanish market strategic due to its high renewable energy penetration and the critical role storage will play in system management: supplying energy during non-solar hours, improving operational efficiency, and replacing other baseload energy sources such as gas,” it added.
David Ruiz de Andrés, CEO of Grenergy, said the company would continue to expand its storage-focused strategy following the success of its Chilean model. “We are now increasing our investment to launch new storage projects, particularly in Europe,” he said.
Additionally, Grenergy is expanding its Chilean Oasis platforms, adding 2.5 GW of solar and 14.1 GWh of storage to Oasis de Atacama, while Central Oasis will grow to 1.4 GW of solar and 5.1 GWh of storage. Altogether, the combined Chile Oasis portfolio will reach 5 GW of solar capacity and 22 GWh of storage.
Continuing its focus on storage, Grenergy said its European storage platform Greenbox is targeting 8 GWh of battery energy storage systems (BESS) in operation and under construction by 2028. The European pipeline for Greenbox currently totals 30 GWh. It has secured 1.3 GWh under tolling agreements in Spain and 2.9 GWh in Polish and UK auctions.
In addition, Grenergy unveiled GR Data, a new digital infrastructure business in Chile aimed at supporting growth in artificial intelligence (AI) and data centers. GR Data will be supported by its Oasis hybrid solar-and-storage platforms.
The company plans to develop 2 cloud campuses near Santiago with a combined 600 MW IT capacity, alongside the Atacama Data project, initially planned at 400 MW IT and scalable up to 1 GW.
For the first quarter of 2026, Grenergy reported revenues of €143 million, compared with €237 million a year earlier. Its EBITDA stood at €5 million, down from €62 million, while net profit declined to €2 million from €32 million in the same period last year.
