Grenergy has unveiled its growth plans, closely linked to its strategic commitment to energy storage. As part of this, the company announced an investment of €2.6 billion until 2026. Of the total, €1.5 billion will be allocated to the development of its portfolio of photovoltaic projects and €800 million to boost battery storage.
The company has development teams in eleven countries across its three main regions (Latin America, Europe and the United States). Reportedly, the company has a 15.5 GW platform in various stages of development and has successfully sold a total of 1.1 GW.
Furthermore, the company has also announced its new three-year installed capacity targets. It has set its gross installed solar capacity for 2026 at 5 GW, while its renewable energy storage capacity has been raised to 4.1 GWh. The company will rotate up to 450 MW of installed solar capacity per year to finance its growth plans.
In October 2023, Grenergy decided to divest 300 MW of solar capacity from two solar facilities in Spain to Allianz Capital Partners on behalf of Allianz insurance firms and other institutional investors for €270.6 million. Reportedly, the acquisition will be completed by the end of June 2025.
REGlobal’s Views: Although European, Grenergy is fast expanding its presence west in both North and South America. The United States is one of the most attractive markets for renewable energy deployments and is witnessing rapid capacity expansions. Meanwhile, Chile has also emerged as an important destination for the company owing to its very high potential for solar power.
