Grenergy unveils 2023-26 plans including ‘world’s largest’ 4.1GWh Chile BESS project

LinkedIn
Twitter
Reddit
Facebook
Email

Spain-based developer and IPP Grenergy has detailed its investment plans for 2023-2026, totalling US$2.6 billion including what it claimed is the ‘largest BESS in the world’ in Chile.

According to its Strategic Plan 2023-2026, the IPP will commit US$2.6 billion to these expansions, with US$1.5 billion allocated to solar PV and US$800 million to energy storage. Of its three major operational markets – the US, Europe and Latin America – Grenergy highlighted Chile as a fulcrum for leveraging up its solar and storage businesses.

To support the planned growth, the company said that it expects to continue to expand its asset rotation model through 2026, by which it funds projects at certain points and sells them to more well-positioned investors at a later stage. The company said that it expects to sell between 350MW-450MW of solar PV capacity and 1GWh of storage capacity to the market annually, generating around US$600 million by 2026.

Earlier this year, it signed power purchase agreements (PPA) for solar projects in Chile and Spain with respective capacities of 241MW and 259MW.

This article requires Premium SubscriptionBasic (FREE) Subscription

Enjoy 12 months of exclusive analysis

Not ready to commit yet?
  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Annual digital subscription to the PV Tech Power journal
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Both of these are pivotal markets for Grenergy, and Chile featured most prominently in its Strategic Plan announcement. In addition to its solar PV assets in the country, which add to over 900MW across operational and pipeline projects, the company said that “Chile will be key to the company’s growth in the storage sector”.

It said that construction had begun on the Oasis de Atacama battery storage project, which will be the “largest in the world” with 4.1GWh capacity and a further 1GW of solar PV generation. The project will represent a total US$1.4 billion. It will be built in five phases and will ‘come on stream’ over the next 36 months.

“Today, Chile is a superpower in terms of the development of energy storage due to the exceptional conditions of the Atacama Desert in terms of hours of solar radiation and the particularity of the energy mix of this vast area, where the penetration of solar energy reaches 50%,” said David Ruiz de Andrés, CEO of Grenergy.

The grid-scale energy storage market in Chile is taking off with significant opportunities in the capacity market and renewable load shifting, with some 735GWh of renewable energy curtailed in the first five months of 2023 alone.

See the full version of this article on PV Tech.

14 October 2025
InterContinental, Santiago, Chile
We are excited to bring the industry together for the fourth edition of the Energy Storage Summit Latin America on 14-15 October in Santiago, Chile. The Summit has become a meeting place for IPPs and developers, investors, financiers and banks, utilities, consultancies, software providers, and manufacturers who are setting high standards in the Latin American energy storage sector.

Read Next

September 3, 2025
During the morning of 30 August 2025, the California Department of Forestry and Fire Protection (CAL FIRE) responded to a possible vegetation fire in the area of independent power producer (IPP) Arevon Energy’s California Flats solar-plus-storage project.
September 3, 2025
Chile is leading Latin America’s wave of energy storage adoption, closely linked to its embrace of solar PV.
September 2, 2025
Energy-Storage.news speaks with Karina Hershberg, Associate Principal at engineering firm PAE Engineers, on integrating microgrids with sustainable building design.
August 22, 2025
Spanish utility Iberdrola and power conversion specialist firm Ingeteam have partnered to hybridise Spanish operational PV plants with battery energy storage systems (BESS).
August 21, 2025
ACE Power has confirmed the sale of the 103MW/206MWh Kerang grid-forming BESS in the Loddon Valley region of Victoria, Australia.

Most Popular

Email Newsletter