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Grenergy signed its largest-ever PPA, supplying 1 TWh of night-time electricity annually for 15 years
The contract will be served by Elena, the Americas' ‘largest’ battery storage project, with plans to double its capacity to 7 GWh
The company is leveraging its hybrid solar-storage platform to support grid flexibility and future AI data center developments in Chile
Spanish renewable energy company Grenergy has signed its largest power purchase agreement (PPA) to date by volume, securing a 15-year contract to supply 1 TWh of electricity annually during nighttime in Chile.
The agreement, signed with a global investment-grade utility whose name was not disclosed, is scheduled to come into effect between July 2026 and October 2026. The electricity will be supplied by Elena, Grenergy’s battery energy storage system (BESS) project in Chile’s Antofagasta region.
The deal points to the growing commercial value of large-scale battery storage, as it underpins a long-term contract to supply electricity when solar generation is unavailable.
Elena currently has 3.5 GWh of installed storage capacity (3 GW net), making it the ‘largest’ battery storage facility in the Americas. The project is planned to expand to 7 GWh (6 GW net) under the company’s 2028 roadmap.
Grenergy recently inaugurated the Elena facility, which includes 624 battery containers and 6,240 battery units. The project forms part of Grenergy’s Oasis de Atacama platform, which combines 2.5 GW of solar generation with 14.1 GWh of battery storage.
The company is replicating the hybrid solar-plus-storage model through additional projects in Chile and Spain, creating a combined pipeline of 5 GW of solar capacity and 22 GWh of energy storage.
Grenergy said the long-term agreement improves revenue certainty for its storage assets while highlighting the growing commercial role of large-scale batteries in supplying electricity beyond daylight hours.
Separately, the company said it is developing its GR Data platform to support AI-focused data centers in Chile. With a planned pipeline of 1 GW of IT capacity, the initiative could attract up to $25 billion in direct digital investment over the next 3 years, supported by renewable power from its energy hub in northern Chile (see Grenergy Raises 2028 Investment Plan To €3.7 Billion).
