Annual rank11
Spain · Utilities
Grenergy Renovables
Develops hybrid solar-and-battery systems, including the operating Oasis de Atacama energy-storage project.
FY2022–FY2025
FY2022–FY2025
FY2022–FY2025
current context only
Company profile
Solar by day, stored power after sunset
Grenergy develops, builds and operates solar and battery projects, but its storage business has two distinct formats. Oasis co-locates photovoltaic generation with batteries to shift solar output into non-solar hours; Greenbox connects stand-alone batteries directly to the grid. The group links project origination and construction with plant operations and large-scale power contracts across Europe, Latin America and the United States.
Integrated operating model
From site selection to the control room
Teams assess sites, test feasibility, obtain permits and plan projects before in-house design and integrated construction management. Once a plant is live, remote and field specialists plan maintenance, monitor it in real time and manage risk; the power team works with offtakers under large-scale contracts. These pages describe group capabilities across the life cycle, not a claim that every project remains owned by Grenergy.
- Develop a project Site assessment, feasibility, permitting and planning
- Build the plant In-house design, project management and delivery stages
- Enter the control room Remote monitoring, field inspections and maintenance
- Contract the power Large-scale agreements and relationships with offtakers
Hybrid power in Chile
When the Atacama sun sets, the batteries keep supplying
Oasis de Atacama combines solar and storage so electricity can be delivered beyond daylight hours. Its project page dates operations from 2024; Grenergy's current full-platform plan is 2.5 GW of PV and 14.1 GWh of batteries. Central Oasis is a separate five-phase replication in central Chile, planned at 1.4 GW and 5.1 GWh for 2027. Codelco is an offtaker under a 24/7 PPA, while BYD supplies 2.6 GWh of batteries for four named phases.
- Explore Oasis de Atacama The 2.5 GW solar and 14.1 GWh storage platform
- Meet Central Oasis Five planned phases, PPA structure and 2027 timetable
- Follow the battery delivery 468 BYD systems allocated across four named phases
- ▶ VideoWatch the hybrid model travel English Grenergy film taking hybridisation from Chile outward
Two Spanish storage formats
Escuderos couples solar and batteries; Oviedo stands alone
Iberian Oasis is under development at 1 GW of solar and 3.2 GWh of storage. Its Escuderos phase includes 200 MW of solar already operating, 680 MWh of planned storage and a signed PPA; Índalo adds a planned 100 MW and 320 MWh. Oviedo instead is a stand-alone four-hour battery: 154 MW and 618 MWh on a former industrial site, expected to enter operation in the first half of 2027.
- Compare the Iberian phases Operating solar, planned batteries and named PPA-backed projects
- Visit Oviedo A 154 MW, four-hour battery on a former industrial site
- ▶ VideoWatch Iberian Oasis English official film introducing the Spanish hybrid platform
- ▶ VideoWatch Greenbox English official film on Grenergy's stand-alone battery platform
Strategy and geography
Two platforms anchor a €3.7bn plan
Grenergy's May 2026 plan allocates €3.7 billion through 2028, with roughly 45% intended for Europe, 45% for Chile and about 5% for the United States. It targets 8 GWh of Greenbox capacity in operation or construction by 2028 across six European markets, while all Oasis platforms are planned at 5 GW of solar and 22 GWh of storage. These are company targets and pipeline figures, not delivered capacity.
- Read the 2028 plan Capital allocation, Oasis expansion and Greenbox targets
- Map the international footprint Operations and offices across three regions
- See how a BESS works Battery racks, controls, inverters and grid services
- Follow the company's evolution From a five-person start in 2007 to storage-led expansion
Official profile sources: Hybridization, solar plants with batteries | Grenergy · Key Projects | Grenergy · Oasis de Atacama | Grenergy
Current 2026 update
What is changing at Grenergy Renovables in 2026?
Grenergy is moving beyond a single solar-plus-storage format. Greenbox puts stand-alone batteries on European grids, Oasis combines batteries with solar, long-term contracts are giving reference projects different revenue structures, and GR Data is building a team around a still-uncontracted digital-infrastructure option.
The change in one sentence
The next cycle combines two battery formats, two contract models and one pre-customer digital option.
Greenbox and Oasis are different physical formats; Elena and Oviedo illustrate different commercial structures; GR Data tries to reuse clean power, sites and grid connections for data centres. Targets, scalable capacities and pipelines remain plans unless a source states that they are operating or contracted.
Four lenses on 2026
The same four-quadrant format used in the Company profile.
01 · Two storage formats
Greenbox stands alone; Oasis shifts co-located solar beyond daylight
Grenergy's May roadmap targets 8 GWh of Greenbox capacity operating or under construction by 2028 across six European markets. Greenbox batteries connect to the grid without a co-located solar plant. Oasis instead combines solar generation and storage; Iberian Oasis is under development at 1 GW of solar and 3.2 GWh of batteries, while all Oasis platforms are planned at 5 GW of solar and 22 GWh of storage. These are roadmap and pipeline figures, not delivered capacity.
- Current signalGreenbox target: 8 GWh · Oasis roadmap: 5 GW solar + 22 GWh storage
- Why it mattersThe two formats address different project configurations and should not be treated as one operating fleet or one commercial model.
- 2028 investment plan Grenergy Renovables · 2026-05-27
- Plan and project detail Grenergy Renovables · 2026-05-27
02 · How the battery is contracted
Elena sells night-time energy; Oviedo pairs tolling with project finance
Elena in Chile has 3.5 GWh of gross storage already operating and a planned expansion to 7 GWh. Its night-time PPA supplies 1 TWh a year for 15 years and is scheduled to take effect between July and October 2026. Oviedo in Spain is a 618 MWh stand-alone battery under construction; a EUR 100 million senior non-recourse financing package includes credit lines from Santander and SMBC. Operation is expected in H1 2027, while its ten-year financial tolling agreement starts in 2028.
- Current signalElena: 1 TWh/year for 15 years · Oviedo: 618 MWh and EUR 100m financing
- Why it mattersA physical energy-supply PPA and a financial tolling agreement allocate revenue and market risk differently; financing does not itself prove operation.
- Elena night-time PPA Grenergy Renovables · 2026-06-30
- Oviedo financing Grenergy Renovables · 2026-07-22
03 · The digital option
GR Data now has a Chile lead, but no announced customer or strategic partner
Grenergy appointed Gonzalo Atán as Managing Director of Data Centers in Chile in July. Atacama Data is planned to start at 400 MW IT and scale to 1 GW IT near the Elena hybrid plant, with a secured Kimal grid connection; two Santiago cloud campuses are planned at 600 MW IT combined. The company says it aims to attract strategic partners, but the release names no customer, hyperscaler, partner, construction start or contracted IT capacity.
- Current signalManaging Director appointed · project capacities remain planned
- Why it mattersThe appointment adds organisation to the concept, but the investment case remains pre-customer and pre-construction on the disclosed evidence.
- GR Data appointment Grenergy Renovables · 2026-07-08
- Plan and project detail Grenergy Renovables · 2026-05-27
04 · What to watch
Three questions for the next disclosures
Three questions separate roadmap ambition from operating and contracted assets.
- Greenbox build-outWhich stand-alone projects beyond Oviedo reach construction toward the 8 GWh operating-or-under-construction target?
- Contract milestonesDoes Elena's PPA take effect in the stated window, and how is Oviedo bridged from H1 2027 operation to the 2028 tolling start?
- GR Data customersDoes GR Data announce a customer or strategic partner, contracted IT capacity and a construction timetable?
Annual record
Ranking history
Future editions add rows; they do not rewrite the 2026 record.
| Edition | Measurement period | Rank | Revenue growth | Net-income growth | Stock return |
|---|---|---|---|---|---|
| 2026 | FY2022–FY2025 | 11 | +531% | +746% | +211% |