Grenergy has rounded out its latest milestone in its European expansion strategy, the latest move in an ongoing saga of European energy sector development. The company has executed a ten-year financial commitment under a tolling agreement. This agreement underpins its 150 megawatt (MW)/600 megawatt-hour stand-alone battery-base project in Oviedo, Spain. This project which utilizes the rapidly scaling hi-tech sector brings an impressive four hours of energy storage capacity. It represents a pioneering operation in the Spanish market and is the biggest stand-alone battery project announced in Spain so far.
Construction has already started at the location, which was used as an industrial site before. The original site is located immediately adjacent to La Estrecha substation in La Corredoria. This strategic location ensures a seamless, optimal connection and integration to the grid. This strategic positioning reaffirms Grenergy’s determination to strengthen its footprint as the energy landscape transforms across Europe.
The Oviedo project is a member of Grenergy’s nascent Greenbox platform, now being developed across the continent. The Greenbox platform includes a strong pipeline of more than 30 gigawatt-hours (GWh) of stand-alone battery storage projects. As noted under this joint initiative, Grenergy will be tasked with managing the operation of the asset and battery trading itself.
If all goes according to plan, the project will start service in the first half of 2027. The new tolling agreement would go into effect in January 2028. This timeline is indicative of a larger move by Grenergy, which plans to rollout not just stand-alone storage projects but hybrid initiatives across regions in Spain concurrently.
Grenergy CEO David Ruiz de Andrés said that the company was proud to have its first comprehensive landmark agreement and noted the importance within the Spanish market.
“We are very proud of this financial tolling agreement. It is the first of its kind in Spain and, I am sure, the first of many within our stand-alone Greenbox platform in Europe.” – Grenergy CEO David Ruiz de Andrés
Grenergy remains to be seen on how many additional opportunities Grenergy will pursue to advance the Greenbox pipeline. Beyond that, they’re creating new tolling partnerships in other European markets. The company is going to great lengths to duplicate the success of those OASIS platforms. It aims to tap into the massive potential that lies within Spain’s energy sector.