Grenergy Signs 15-year Hybrid PPA to Deliver 8 Terawatt-Hours of Green Energy

Grenergy, a leading renewable energy company, has taken a significant step forward in its commitment to energy storage by securing a new hybrid Power Purchase Agreement (PPA). The agreement, spanning 15 years, involves supplying green energy to an international utility with an Investment Grade credit rating. With this deal, Grenergy’s total contracted value reaches 2.7 billion euros, solidifying its position as a global leader in PPA signings.

Under the terms of the agreement, Grenergy will provide approximately 8 terawatt-hours of green energy over the contract’s duration. The delivery of green energy is expected to commence in the second quarter of 2026, with the corresponding plant operations anticipated to start in 2025.

This development is part of Grenergy’s Oasis de Atacama project, which stands as the world’s largest storage initiative, boasting a capacity of 4.1 gigawatt-hours alongside nearly 1 gigawatt of solar power. The energy supplied under this new agreement will originate from the project’s fourth phase, which encompasses a solar generation capacity of 260 megawatts and storage capability of up to 1,100 megawatt-hours.

In addition to this latest achievement, Grenergy recently announced its first overnight long-term sales contract, covering 2 gigawatt-hours and relating to the initial three phases of the Oasis de Atacama project. With an investment commitment of up to $1.4 billion, Grenergy now accounts for 75% of its energy generation under PPAs.

David Ruiz de Andrés, CEO of Grenergy, commented on the significance of these milestones, emphasizing how they contribute to the realization of the Oasis de Atacama project and position it as a global reference in the renewable energy sector.