The agreement will be effective for 10 years starting in January 2028. Grenergy will retain responsibility for asset operations and battery trading management.
Oviedo, Greenbox’s flagship project in Spain, will have a capacity of 150 MW / 600 MWh (equivalent to four hours of storage). Construction is already underway on a former industrial site next to the La Estrecha substation in La Corredoria, allowing for a direct and efficient grid connection. The company expects operations to begin in the first half of 2027.
Spain is set to become one of Grenergy’s key strategic markets in the coming years. The company will deploy both standalone storage projects and hybrid initiatives, further reinforcing its leadership in Europe’s energy transition.
Greenbox
This agreement represents another milestone in the rollout of Greenbox, Grenergy’s standalone storage platform in Europe, introduced at the company’s latest Capital Markets Day in London in May 2025.
With a pipeline exceeding 30 GWh of standalone battery storage, Greenbox is becoming one of Europe’s leading storage platforms. The company is advancing projects across its key European markets: Poland (5 GWh in the pipeline), Romania (7 GWh), Germany (3 GWh), Italy (5.8 GWh), Spain (6 GWh) and the United Kingdom (4 GWh).
Grenergy has recently secured capacity agreements for 2.1 GWh of standalone storage projects in Poland and has received a grant of nearly €8 million from the Polish government to support additional standalone projects (136 MWh) planned in the country.
Grenergy continues to explore opportunities to expand Greenbox’s pipeline and secure new tolling agreements across the six European markets served by its standalone platform.
Battery storage is a key investment for modernizing the electricity grid, enabling energy to be stored during periods of high generation and released when demand rises. This reduces price volatility, increases renewable integration, enhances system flexibility, and helps prevent blackouts—ultimately strengthening grid stability.
David Ruiz de Andrés, CEO of Grenergy has stated, "We are very proud of this financial tolling agreement. It's the first of its kind in Spain and, I am sure, the first of many within our stand-alone Greenbox platform in Europe. We are going to replicate the success of the OASIS platforms in the European market, especially in Spain, where the potential is remarkable."
