Grenergy's results for the first nine months of the year highlight the solid progress of its €2.6 billion global investment plan through 2026, announced last year and designed to position the company as a global leader in energy storage.
The company has increased its investment by 61%, reaching €419 million during the period.
Of this total, 50% was allocated to its flagship project, Oasis de Atacama in Chile — world's
largest storage project— while approximately 30% has been allocated to projects in Spain.
Revenues for the period have totaled €278 million, reflecting a 21% decrease compared to
September 2023. However, adjusted for changes in investment accounting, revenues would
have grown by 16% during the period.
EBITDA (gross operating profit) has stood at €53 million, down 48%. This reduction is
primarily due to the sale of Belinchón plant, which was accounted for in September 2023
but is no longer reflected in this year’s results. Net profit for the period has amounted to €6
million.
Grenergy has closed the first nine months of the year with a portfolio of 25 GWh in storage,
3.3 GWh more than in the same period in 2023, and 15.6 GW in photovoltaic. A total of 2.3
GW and 3.6 GWh are currently in operation or under construction.
Oasis de Atacama advances according to plan. Located in northern Chile, the project
comprises six phases, with a combined capacity of 11GWh in storage and nearly 2GW of solar
capacity. It is expected to generate approximately 5.5 TWh annually, ensuring energy
availability during non-solar hours.
30% of the batteries for Phase 1 have already been installed. The remaining batteries for this
phase are expected to arrive in the coming days, enabling the project to be connected in
the following weeks. In September, Grenergy extended its agreement with BYD to 3 GWh
for the provision of batteries for Phases 1, 2, and 3, marking the largest agreement to date
with the Asian multinational. Additionally, in October, the company also signed a strategic
deal with CATL to supply batteries for Phase 4 of the project (1.25 GWh).
Energy from the first four phases of Oasis de Atacama has already been sold through power
purchase agreements (PPAs), with additional agreements expected in the coming months.
Sustainability goals achieved
Grenergy continues to strengthen its commitment to sustainability, achieving all the goals
outlined in its 2024-2026 Strategic Plan. This year, the company has been recognized in ESG
rankings by S&P Global, Sustainalytics, and CDP. Additionally, the company has received
MSCI’s prestigious "AAA" certification for the third consecutive year.
