Grenergy signed a 12-year financial tolling agreement for the 680 MWh BESS at its Escuderos hybrid project in Spain, which also includes 200 MW of solar PV. The agreement, effective from July 2028, supports long-term revenue stability while advancing Grenergy’s solar-plus-storage strategy in Europe. Construction of the battery system is scheduled to begin in 2026, with commissioning targeted for 2027.
PROJECT SNAPSHOT
Company: Grenergy
Project: Escuderos Hybrid Project
Location: Castilla-La Mancha, Spain
Solar Capacity: 200 MW
BESS Capacity: 680 MWh
Agreement: 12-year financial tolling contract
Commissioning: Expected by 2027
Trend: Solar-plus-storage hybridisation
Grenergy has entered into a financial tolling agreement for the battery storage component of its Escuderos hybrid project in Castilla La Mancha. The Escuderos financial tolling agreement, signed in April 2026, is a 12-year contract covering the 680 MWh BESS of Grenergy's flagship hybrid project in Castilla-La Mancha, Spain and will come into force in July 2028. This deal marks the first major hybrid solar-plus-storage project for Grenergy in its domestic market, following a strategy of "hybridisation" successfully pioneered with its Oasis platforms in Chile. The deal was signed with a global utility provider that holds an investment-grade credit rating from both Moody’s and Standard & Poor’s.
This latest deal for the Escuderos storage system complements the 12-year daytime Power Purchase Agreement (PPA) established with Galp in 2020, which covers the solar output of the hybrid facility. This marks Grenergy’s second financial tolling agreement in Spain, coming after a similar deal struck last February for its standalone project in Oviedo. Like the current agreement, that previous contract was signed with a global utility carrying an investment-grade rating from Moody’s.
Just two months prior, Grenergy signed its first-ever financial tolling agreement in Spain for the Oviedo standalone battery project (150 MW / 600 MWh). This was also a long-term (10-year) deal with an Investment Grade utility, serving as the blueprint for the Escuderos contract. The solar component of the Escuderos project (200 MW) was already secured through a 12-year daytime PPA signed with the Portuguese energy group Galp in 2020.
As Grenergy’s premier hybridization site is in Spain, Escuderos will pair 200 MW of solar power with 680 MWh of battery storage. Work on the storage system is slated to start in latter half of this year and aims for full operation by 2027. The Escuderos project replicates the model established by Grenergy’s solar-and-storage hybrid strategy it pioneered in Chile with the Oasis de Atacama (2 GW / 11 GWh) and Oasis Central (1.1 GW / 4 GWh) platforms. These South American projects serve as a blueprint for company's broader hybridization approach.
The Oasis de Atacama site currently boasts 2 GW of power and 11 GWh of storage capacity with a total investment of €2 billion and with completion expected in 2027. Oasis Central is projected to feature 1.1 GW of solar power and 4 GWh of storage, with an estimated investment of €900 million.
In addition, Grenergy is progressing with Greenbox, its European standalone battery platform and represents as a vital component of its long-term strategy. The Oviedo facility in Spain serves as a lead project for this initiative. These efforts together solidify Grenergy’s position as a leader in integrated renewable energy and storage systems.
Grenergy stated that Escuderos project represents a new chapter for the company in Spain. It serves as its inaugural large-scale hybrid site with many more to follow. The company noted that it recognizes significant opportunities in the Spanish market to expand its hybrid portfolio by leveraging the expertise and proven success gained from its Oasis platforms in Chile.