News Synopsis
Project Name – GR Power Reverse Energy Auction
Developer / Owner – Grenergy, through its subsidiary GR Power
Project Type – Solar PV and BESS energy supply auction
Capacity – 1.5 TWh/year (960 GWh/year battery storage, 540 GWh/year solar)
Location – Northern and central Chile
Technology Used – Solar photovoltaic generation, battery energy storage systems (BESS)
Spain-based renewable energy company Grenergy has launched a reverse energy auction in Chile through its subsidiary GR Power, offering 1.5 TWh of electricity annually from its portfolio of solar photovoltaic plants and battery energy storage systems (BESS). The auction targets electricity generators, retailers, and large industrial consumers seeking long-term power supply agreements. The energy will come from Grenergy's renewable energy assets across northern and central Chile, with electricity deliveries scheduled to begin between the second and third quarters of 2028.
The auction combines 960 GWh of battery-stored electricity each year, supplied during nighttime hours, with 540 GWh of solar photovoltaic generation delivered during daytime periods. This setup aims to create a balanced supply profile by pairing daytime solar production with stored energy available after sunset. Participants can bid for the entire volume offered or choose only a part, as the auction is divided into 20 GWh contracting units. Buyers also have the option to select contract durations of 6, 8, 10, 12, or 15 years, offering flexibility based on their energy procurement strategies and long-term needs.
Applications for the reverse auction are now open through the Match Energía power marketplace. Interested companies can submit questions during the consultation period until July 7, 2026, while registrations will stay open until July 22, 2026. The auction aims to offer multiple procurement options for electricity buyers and help renewable energy suppliers secure long-term sales agreements. By breaking down the contracted energy into smaller units, the process allows organizations with varying electricity demands to participate without committing to the entire supply volume.
This marks the third renewable energy auction organized directly by Grenergy. According to the company, it became the first clean energy producer in Latin America to conduct its own renewable energy auction in March 2022. The company stated that this auction model has expanded participation among generators, retailers, and corporate electricity consumers by providing access to competitively priced renewable electricity through a structured contracting mechanism.
Chile remains Grenergy's main market in Latin America since the company's entry in 2012. Its Oasis Atacama platform currently manages 2.5 GW of solar capacity along with 14 GWh of battery storage in northern Chile. Grenergy is also growing this model through its Oasis Central project in central Chile, which is planned to have 1.4 GW of solar capacity and 5.1 GWh of battery storage. The experience gained from these hybrid solar and storage projects is also helping the company expand into European markets while continuing to invest in Chile's renewable energy sector.