The tolling agreement will run for 10 years, beginning in January 2028. Grenergy will remain responsible for the asset’s operation and battery trading management.

Oviedo, the flagship project of Greenbox in Spain, will have a capacity of 150 MW/600 MWh, equivalent to four hours of storage. Construction has already begun on a site previously designated for industrial use, located next to the La Estrecha substation in La Corredoria, enabling direct and efficient grid connection. The company expects the project to begin operations in 1H27.

Spain is set to become one of Grenergy’s strategic markets in the coming years. The company will simultaneously deploy both stand-alone storage projects and hybrid initiatives, further strengthening the company’s leadership in Europe’s energy transition.

This agreement marks another milestone in the deployment of Greenbox, Grenergy’s stand-alone storage platform in Europe.

With a total pipeline exceeding 30 GWh of stand-alone battery storage, Greenbox is emerging as one of the leading storage platforms in Europe. The company is advancing projects across its key European markets: Poland (5 GWh in the pipeline), Romania (7 GWh), Germany (3 GWh), Italy (5.8 GWh), Spain (6 GWh), and the UK (4 GWh).

Recently, Grenergy has recently secured capacity agreements for 2.1 GWh in stand-alone storage projects in Poland and has received a grant of nearly €8 million from the Polish government to support other stand-alone projects (136 MWh) planned in the country.

Grenergy continues to explore opportunities to enlarge Greenbox’s pipeline and close new tolling agreements across the six European markets that are currently served by its stand-alone European platform.

Battery storage is a key investment for modernising the electricity grid as it allows energy to be stored during periods of high generation and released when demand increases. In this way, it helps reduce price volatility, enables greater renewable integration, improves system flexibility, and helps prevent blackouts, ultimately strengthening grid stability.

David Ruiz de Andrés, CEO of Grenergy, stated: “We are very proud of this financial tolling agreement. It is the first of its kind in Spain and, I am sure, the first of many within our stand-alone Greenbox platform in Europe. We are going to replicate the success of the OASIS platforms in the European market, especially in Spain, where the potential is enormous.

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Read the article online at: https://www.energyglobal.com/energy-storage/18022026/grenergy-signs-10-year-financial-tolling-agreement-for-battery-project-in-spain/