In a tolling agreement, one party (the ‘toller’) makes available their asset to another party for a fee. In the case of a battery energy storage system (BESS), this means that the party owning the BESS will make it available for another party to store energy.
Grenergy will be responsible for the operation and trading management of its batteries. It is the second financial tolling agreement the company has signed in Spain, following the deal reached last February for its stand‑alone project in Oviedo, also with an international utility rated Investment Grade by Moody’s.
This new agreement for the Escuderos storage system adds to the daytime PPA signed with Galp in 2020, also for a 12‑year term, covering the solar portion of this hybrid plant.
Escuderos is Grenergy’s flagship hybridisation project in Spain. The complex will comprise 200 MW of solar PV and 680 MWh of storage. Construction of the BESS system will begin in the second half of this year, with commissioning targeted for 2027.
With Escuderos, Grenergy aims to replicate in Spain the solar‑plus‑storage hybridisation model developed in Chile through its Oasis de Atacama and Oasis Central platforms, which form the foundation of the company’s hybridization strategy.
Oasis de Atacama currently has a capacity of 2 GW and 11 GWh of storage, with completion expected in 2027 and an investment of 2 billion euros. Oasis Central currently projects 1.1 GW of solar energy and 4 GWh of storage, with an estimated investment of 900 million euros.
In addition, Grenergy continues to advance Greenbox, its stand‑alone battery platform in Europe, which represents another key pillar of its strategic plan. The Oviedo plant (Spain) is its flagship project in this line. Through these initiatives, Grenergy is aiming to strengthen its position in hybrid renewable generation and storage solutions.
“Escuderos marks the beginning of a new stage for Grenergy in Spain” said David Ruiz de Andrés, CEO of Grenergy. “It is our first major hybrid project in the country and more will follow. We see enormous potential in the Spanish market to continue developing a hybrid portfolio, building on the experience and track record we have already established in Chile with the Oasis platforms.”
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