Grenergy has unveiled its 2025–2027 strategic plan during Capital Markets Day in London, announcing an investment of €3.5bn to reinforce its leadership in the energy storage sector.
The company’s roadmap until 2027 is built on three key pillars.
These are 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 4.4GW of installed solar capacity and 18.8GWh of battery storage.
To support this investment- focused on hybridization 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 €800m between 2025 and 2027, of which 50% is already secured or in advanced stages.
The company also plans to draw on its strong track record in project finance, highlighted by nearly US$1bn 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 €450m and €500m, driven by the integration of battery energy storage systems (BESS).
David Ruiz de Andrés, chief executive of Grenergy, said: “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.
“Our vision is clear: to lead the development of BESS, capitalizing 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 2GW and 11GWh of storage, is expected to be completed by 2027 with a total investment of €2bn.
In 2025, the company expects to finalize PPAs and financing for phases 5 and 6 and begin commercial operations with BESS for phases 2 and 3.
Central Oasis aims to reach 1.1GW of solar capacity and 3.8GWh of storage with an estimated investment of €900m.
The project comprises five planned phases, all set to be operational by 2027.
All phases have secured 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 hybridization project in Spain, underscoring its strategic commitment to storage in the country.
The initiative will combine 200MW of solar capacity and 704MWh 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 finalized soon.
Ruiz de Andrés said: “Escuderos will be the first of many projects where we replicate the successful Oasis de Atacama model.
“This solar-and-storage hybridization 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 also announces the launch of Greenbox, its new standalone battery energy storage platform, set to become one of the largest in Europe.
With a pipeline of 35GWh, Greenbox will focus on key European markets where Grenergy already operates.
These include Poland (7GWh), Romania (6.7GWh), Germany (6.4GWh), Italy (5.8GWh), Spain (4.6GWh), and the United Kingdom (4.6GWh).
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 600MWh.
The company expects to finalize tolling agreements soon. Construction is scheduled to begin in the first half of 2026 and the project is expected to be operational by 2027.
Ruiz de Andrés said: “As pioneers in hybridization and backed by strategic alliances with global leaders such as BYD and CATL, Greenbox enables us to harness the rapid growth of BESS across Europe.
Investing in batteries means building more efficient grids, capable of providing multiple services and optimizing intraday price spreads.
“With this vision, we are driving a more resilient, sustainable, and future-ready energy system.”
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, the company said.
Its focus is on Chile’s unregulated customer market, where there are significant growth opportunities-particularly among mining companies and data centers.
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.