Overview
- Grenergy signed a 12-year financial tolling agreement with an investment-grade international utility for the 680 MWh battery at the Escuderos hybrid plant in Spain.
- The contract begins in July 2028, and Grenergy will continue to operate the batteries and manage their market trading.
- The storage deal complements a 12-year daytime solar power purchase agreement signed with Galp in 2020, locking in revenue streams for both the battery and the PV array.
- The Escuderos complex pairs 200 MW of solar with 680 MWh of storage, with battery construction planned for the second half of 2026 and commissioning targeted for 2027.
- A financial tolling deal pays for access to a battery’s capacity or dispatch rights over many years, and this is Grenergy’s second in Spain after the Oviedo stand-alone project under its Greenbox platform as it adapts its large Oasis projects from Chile to a Spanish market adding more storage.