-- Grenergy, a leading Spanish renewable energy producer has signed a 12-year financial tolling agreement with an investment-grade international utility for the battery storage system of its Escuderos hybrid project in Castilla-La Mancha, marking its second such deal in Spain, the company said.
The contract, set to begin in July 2028, covers the 680 MWh battery energy storage system (BESS), with Grenergy retaining responsibility for operations and trading management, it said in a statement.
Escuderos combines 200 MW of solar photovoltaic capacity with large-scale storage and is positioned as the company's flagship hybrid project in Spain. Construction of the BESS component is expected to start in the second half of 2026, with full commissioning targeted for 2027.
The company noted that this agreement complements its 12-year daytime power purchase agreement with Galp, a Portuguese energy company.
It also highlighted the success it has had with this model in its Chilean projects, through its Oasis platforms.
The company's CEO, David Ruiz de Andres, said that this was its first major hybrid project in Spain, while noting that more were to come.
"We see enormous potential in the Spanish market to continue developing a hybrid portfolio," he said.