Grenergy has reported a fivefold increase in net profit in the first quarter of 2025 to €32m.
EBITDA stood at €62m, experiencing growth of 165%, while revenues reached €237m (+116%).
This growth is due to its recent asset rotation in Chile and the increase in sales in its energy division.
During the first quarter of the year, the company formalised new power purchase agreements, including a PPA for 0.5TWh for 15 years with Codelco, the Chilean state company and the world’s leading copper producer.
Grenergy also signed a long-term daytime PPA with a global energy company in Chile for 390GWh.
During this period, Grenergy has made significant progress in its flagship battery project in Chile, Oasis de Atacama.
It has secured financing of €324m for Phase 4 (Gabriela).
In addition, Quillagua 1 is already in operation with battery systems, reaching high levels of efficiency.
At the same time, it has just announced a new battery supply agreement with BYD Energy Storage for 3.5GWh for Phase 6 of Oasis de Atacama (Elena), the largest contract of its kind in the company’s history.