The company’s roadmap until 2027 is built on three key pillars: expanding hybrid solar-plus-storage plants, replicating the successful model of Oasis de Atacama in central Chile and Spain; launching Greenbox, its new standalone battery platform in Europe; and delivering uninterrupted 24/7 solar energy supply through its Chilean power retailer, GR Power, enabled by storage systems.
By 2027, the company aims to reach 4.4 GW of installed solar capacity and 18.8 GWh of battery storage.
To support this investment - focused on hybridisation 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. Grenergy expects to generate 800 million euros between 2025 and 2027, of which 50 percent is already secured or in advanced stages.
The company also plans to draw on its strong track record in project finance, highlighted by nearly $1 billion in funding secured last year for the Oasis de Atacama project.
By the end of 2027, Grenergy expects its pro forma EBITDA for the Energy segment to reach between 450 million euros and 500 million euros, driven by the integration of battery energy storage systems (BESS).
“We’re entering a new growth cycle where storage and 24/7 clean energy management will be at the core of our strategy through 2027” said David Ruiz de Andrés, CEO of Grenergy. “Our vision is clear: to lead the development of BESS, capitalising on key markets such as Chile and Europe.”
Grenergy will scale its hybrid model, combining solar PV with battery storage, from its flagship Oasis de Atacama project in northern Chile to a new platform, Central Oasis, in the central region of the country, and to Spain through the Escuderos project.
Oasis de Atacama, with an expected capacity of 2 GW and 11 GWh of storage, is expected to be completed by 2027 with a total investment of 2 billion euros. In 2025, the company expects to finalise PPAs and financing for phases 5 and 6 and begin commercial operations with BESS for phases 2 and 3.
Central Oasis aims to reach 1.1 GW of solar capacity and 3.8 GWh of storage with an estimated investment of 900 million euros. The project comprises five planned phases, all set to be operational by 2027. All phases have secured Power Purchase Agreements (PPAs), including the first 24/7 PPA with Codelco, Chile’s state-owned mining company and the world’s leading copper producer.
Escuderos will be Grenergy’s flagship hybridisation project in Spain, underscoring its strategic commitment to storage in the country. The initiative will combine 200 MW of solar capacity and 704 MWh of battery storage across two phases: Escuderos 1 and Escuderos 2. Located in Castilla-La Mancha, the projects already have a 12-year daytime PPA with Galp signed in 2021. Grenergy recently obtained environmental permits for the BESS, and construction is set to begin in the second half of this year, with a hybrid PPA expected to be finalised soon.
“Escuderos will be the first of many projects where we replicate the successful Oasis de Atacama model” added David Ruiz de Andrés. “This solar-and-storage hybridisation project, one of the most ambitious solar-plus-storage initiatives in Spain, will begin implementation in the second half of this year and aims to be fully operational by 2027.”
Grenergy has also announced the launch of Greenbox, its new standalone battery energy storage platform, set to become one of the largest in Europe.
With a pipeline of 35 GWh, Greenbox will focus on key European markets where Grenergy already operates. These include Poland (7 GWh), Romania (6.7 GWh), Germany (6.4 GWh), Italy (5.8 GWh), Spain (4.6 GWh), and the United Kingdom (4.6 GWh).
Greenbox aims to reach 3 GWh in operation and under construction by 2027, supporting grid stability by preventing potential blackouts, facilitating the integration of renewables, and improving energy management.
Oviedo will be the flagship Greenbox project in Spain, with a total capacity of 600 MWh. The company expects to finalise tolling agreements soon. Construction is scheduled to begin in the first half of 2026 and the project is expected to be operational by 2027.
Grenergy is reinforcing its commitment to GR Power, its clean energy retail arm in Chile. Thanks to its ability to ensure continuous supply by combining solar generation and battery storage across its Chilean platforms, GR Power operates with strong expansion potential and positions itself as an innovative utility in the market.
Its focus is on Chile’s unregulated customer market, where there are significant growth opportunities - particularly among mining companies and data centres. GR Power has also pioneered the signing of 24/7 Baseload PPAs, most notably its recent agreement with Codelco, the Chilean state-owned company and the world’s top copper producer.
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