Grenergy signs a 12-year financial tolling agreement for energy storage in Spain
Published by Abby Butler,
Editorial Assistant
Energy Global,
Grenergy has signed a financial tolling agreement for the battery energy storage system (BESS) of its Escuderos hybrid project, Castilla La Mancha, with an international utility rated Investment Grade by Moody’s and Standard & Poor’s.
The contract will run for 12 years and will come into force in July 2028. Grenergy will be responsible for the operation and trading management of the batteries.
This new agreement for the Escuderos storage system adds to the daytime power purchase agreement (PPA) signed with Galp in 2020, also for a 12-year term, covering the solar portion of this hybrid plant.
It is the second financial tolling agreement Grenergy has signed in Spain, following the deal reached in February 2025 for its stand-alone project in Oviedo, also with an international utility rated Investment Grade by Moody’s.
Escuderos is Grenergy’s flagship hybridisation project in Spain. The complex will comprise 200 MW of solar photovoltaics (PV) and 680 MWh of storage. Construction of the BESS system will begin in 2H26, with commissioning targeted for 2027.
With Escuderos, Grenergy aims to replicate in Spain the solar-plus-storage hybridisation model developed in Chile through its Oasis de Atacama and Oasis Central platforms, which form the foundation of the company’s hybridisation strategy.
Oasis de Atacama currently has a capacity of 2 GW and 11 GWh of storage, with completion expected in 2027 and an investment of €2 billion. Oasis Central currently projects 1.1 GW of solar energy and 4 GWh of storage, with an estimated investment of €900 million.
In addition, Grenergy continues to advance Greenbox, its stand-alone battery platform in Europe, which represents another key pillar of its strategic plan. The Oviedo plant (Spain) is its flagship project in this line. Through these initiatives, Grenergy strengthens its leadership in hybrid renewable generation and storage solutions.
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Read the article online at: https://www.energyglobal.com/energy-storage/27042026/grenergy-signs-a-12-year-financial-tolling-agreement-for-energy-storage-in-spain/
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