Grenergy has signed a 10-year financial tolling agreement for its 150MW/600MWh standalone battery project in Oviedo, the largest announced to date in Spain.
The company said the agreement, effective from January 2028, was signed with an international utility rated Investment Grade by Moody’s, with Grenergy retaining responsibility for asset operations and battery trading management.
Construction of the Oviedo project is already underway on a former industrial site next to the La Estrecha substation in La Corredoria, with operations expected to begin in the first half of 2027.
Grenergy stated that the four-hour storage facility is the flagship Spanish project within its Greenbox standalone storage platform.
The company said Greenbox has a pipeline exceeding 30GWh across Poland, Romania, Germany, Italy, Spain and the United Kingdom.
David Ruiz de Andrés, CEO of Grenergy, said: “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.”
Grenergy said Spain is set to become one of its key strategic markets as it deploys both standalone storage and hybrid projects.