Spanish renewable energy developer Grenergy has signed its largest power purchase agreement (PPA) to date, securing a 15-year contract to supply 1 terawatt-hour (TWh) of electricity annually to an investment-grade global utility. The agreement marks a major milestone in the company’s energy storage strategy and will be supported by electricity generated from its battery energy storage assets in Chile.
Under the agreement, electricity deliveries will begin between July and October 2026. The contract is designed to provide power during non-solar hours, highlighting the growing role of battery storage in ensuring a reliable supply of renewable energy beyond daylight generation.
The electricity will be sourced from the Elena battery energy storage system (BESS), located in Chile’s Antofagasta region. With an installed storage capacity of 3.5 GWh, the project has recently entered commercial operation and is expected to expand to 7 GWh in the future. According to Grenergy, Elena is currently the largest battery storage facility in the Americas and serves as a key component of the company’s Oasis de Atacama solar-plus-storage platform.
Grenergy continues to expand its renewable energy portfolio through its long-term development roadmap. As part of its 2028 strategy, the company plans to increase the Oasis de Atacama platform to 2.5 GW of solar generation capacity combined with 14.1 GWh of battery storage. The integrated project is intended to enhance renewable energy reliability while supporting grid stability in Chile.
Beyond Oasis de Atacama, the company is advancing additional large-scale hybrid renewable projects. These include the Oasis Central development in Chile, which will feature 1.4 GW of solar capacity and 5.1 GWh of battery storage, and the Iberian Oasis project in Spain, planned with 1 GW of solar generation and 3.2 GWh of storage. Together, the three developments are expected to deliver a combined portfolio of 5 GW of solar capacity and 22 GWh of battery storage.
The latest agreement follows another long-term PPA signed in June for the Algarrobal project, under which Grenergy will supply 350 GWh of electricity annually for 12 years. The Algarrobal facility combines 242 MW of solar generation with 1,412 MWh of battery storage and is scheduled to begin operations in the third quarter of 2027.
Earlier, in 2025, Grenergy also entered into a 15-year renewable electricity supply agreement with Chilean copper producer Codelco, committing to deliver 0.5 TWh of electricity annually from January 2026 through its hybrid renewable energy portfolio.
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