It will rotate between 350-450 MW per year of installed solar capacity per year and foresees an Ebitda of 300 million at the end of the period
MADRID, 21 Nov. (EUROPA PRESS) –
Grenergy will invest 2.6 billion euros until 2026 to promote its strategic commitment to the development of photovoltaic projects and battery storage, with a focus on Latin America, Europe and the United States.
Specifically, of this investment effort by the renewable group for the period 2023-2026, a total of 1,500 million euros will be allocated to the development of its portfolio of photovoltaic projects and another 800 million euros to battery storage.
The group held its first Capital Markets Day this Tuesday, in which it announced its growth plans, based on an important strategic commitment to energy storage.
Likewise, the company has presented for the first time its gross operating profit (Ebitda) target, which it expects to be in the range of 250-300 million euros at the end of its plan period, almost tripling the slightly more than 100 million euros for this year.
Grenergy, with a presence in eleven countries in three main regions (Latin America, Europe and the United States), has a portfolio of 15.5 gigawatts (GW) in various stages of development and has already closed the sale of a total of 1.1 GW .
The company aims for gross solar installed capacity by the end of 2026 of 5 GW, as well as 4.1 gigawatt hours (GWh) of renewable energy storage.
Regarding asset rotation, it contemplates bringing 350-450 megawatts (MW) of installed solar capacity to the market annually to finance its growth. With these sales, it is estimated that it will generate more than 600 million euros until 2026.
One of the pillars of this plan will be Oasis de Atacama, the largest storage project in the world that will be built in Chile, to which the group will allocate an investment of 1,400 million dollars (about 1,280 million euros) and which will have a capacity of 4.1 GWh and 1 GW solar.
It is scheduled to come into operation in phases over the next 36 months, helping to improve grid stability and decarbonize the economy.
The group’s CEO, David Ruiz de Andrés, highlighted that Oasis de Atacama “will be an iconic project for Grenergy and the entire renewable sector.”
“Today, Chile is a super power 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 energy solar reaches 50% there,” he added in this regard.
In this sense, the company announced last week its first long-term overnight sales contract to supply more than 8 terawatt hours (TWh) of green energy to the Chilean company EMOAC (a subsidiary of Copec, the main fuel distribution company in the country) for a period of 15 years.
To date, Grenergy has closed agreements for the sale of 2.8 TWh of energy through PPAs and a value of 2.7 billion euros in contracted revenue.
Regarding the progress of its Valkyria Project, announced earlier this year and which consists of the sale of 49% of a 1.1 GW portfolio, the company has already completed 85% after the sale of 447 MW for an amount of 450 million euros.
In terms of sustainability, the company has proposed 17 strategic levers and more than 100 actions with the aim of generating a carbon-neutral event, complying with the Sustainable Development Goals while contributing to the reduction of its footprint.
