Grenergy inks 10-year tolling deal for Spain’s biggest battery

Spain’s Grenergy has signed a 10-year tolling agreement with an unnamed offtaker described as an international utility rated investment grade by Moody’s. The deal covers Grenergy’s flagship project in its home market – a 150 MW/600 MWh battery facility in Oviedo – the largest standalone battery project announced to date in Spain.

Construction is already underway at a site previously designated for industrial use, located adjacent to the La Estrecha substation in La Corredoria, allowing for a direct and efficient grid connection. The company expects the project to begin operations in the first half of 2027.

The tolling agreement will run for ten years starting in January 2028, with Grenergy retaining responsibility for the asset’s operation and maintenance.

Madrid-headquartered developer and independent power producer (IPP) Grenergy Renovables is best known for its work on the Oasis de Atacama solar-plus-storage project in Chile, which is expected to feature the world’s largest battery system, with a total storage capacity of 11 GWh once fully built. Its global portfolio exceeds 75 GWh of storage capacity and 12 GW of solar power in various stages of development.

More recently, however, Grenergy has shifted its focus toward Europe, identifying Spain as one of its strategic growth markets in the coming years. The company plans to deploy both standalone storage and hybrid projects in parallel as it expands its European footprint.

The latest agreement marks another milestone for Greenbox, Grenergy’s standalone storage platform in Europe, which has a total pipeline exceeding 30 GWh. The company is advancing projects across its core European markets: Poland (5 GWh in the pipeline), Romania (7 GWh), Germany (3 GWh), Italy (5.8 GWh), Spain (6 GWh) and the United Kingdom (4 GWh).

Most recently, in January, Grenergy secured capacity contracts for 2.1 GWh of standalone storage projects in Poland and received a grant of nearly €8 million from the Polish government to support additional standalone projects totaling 136 MWh in the country.

Grenergy says it continues to explore opportunities to expand its European battery storage pipeline and secure new tolling agreements across the six European markets currently served by its standalone European platform.

“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 enormous,” said David Ruiz de Andrés, CEO of Grenergy.