Grenergy has presented an update to its business plan through 2028, raising its planned investment to €3.7 billion. This figure includes €1.5 billion in 2028, earmarked for boosting Greenbox, its stand-alone battery platform, and its OASIS solar and storage platforms.
The new roadmap reinforces the company's commitment to Europe, which will account for approximately 45% of the investment, at the same level as Chile, while the United States will represent approximately 5% of the planned CAPEX.
The main milestone in Spain is the creation of Iberian Oasis, a new platform with which Grenergy seeks to replicate in the Iberian market the hybrid solar + batteries model successfully developed in Chile.
Grenergy considers the Spanish market strategic due to its high penetration of renewables and the role that storage will play in system management: it will provide energy during hours without solar generation, improve operational efficiency, and allow the replacement of other baseload energy sources such as gas.
Iberian Oasis envisions 1 GW of solar capacity and 3.2 GWh of storage, with an estimated CAPEX of €1 billion. The project is supported by developments such as Escuderos (200 MW solar and 680 MWh storage) and the new hybridization project, Índalo (100 MW solar and 320 MWh storage), in addition to other assets currently under negotiation.
Grenergy is also expanding its Chilean platforms. Oasis Atacama will reach 2.5 GW of solar capacity and 14.1 GWh of storage, while Central Oasis in central Chile will grow to 1.4 GW of solar capacity and 5.1 GWh of storage. The combined capacity of the Oasis platforms is 5 GW and 22 GWh.
Greenbox: the stand-alone platform in Europe is making steady progress
The company aims to reach 8 GWh in operation and under construction by 2028, consolidating Greenbox as one of the largest BESS platforms in the European Union. Its pipeline in Europe totals 30 GWh, of which 9 GWh are in advanced stages of development.
The platform is advancing in different markets with 1.3 GWh in tolling contracts in Spain and 2.9
GWh awarded in capacity auctions in Poland and the United Kingdom. Furthermore, it expects to close new tolling agreements soon and take advantage of the various revenue stack schemes available in the countries where it operates—Spain, Italy, the United Kingdom, Poland, Germany, and Romania.
GR Data: new project to boost the development of data centers in Chile.
The company is developing a new digital infrastructure platform for data centers in Chile, GR Data, supported by its hybrid solar and storage platforms OASIS.
This is a key infrastructure to enable the implementation of artificial intelligence in Latin America, with the aim of attracting strategic partners — such as hyperscalers and other technology players — to a country that, thanks to its leadership in renewable energy and its connection to submarine cables, now has the opportunity to consolidate itself as the great data center hub of the region.
Grenergy has announced the development of two cloud campuses near Santiago—Polpaico North Campus and Alto Jahuel South Campus—combining 600 MW of IT capacity and located close to the country's main connectivity hubs. In addition, there is Atacama Data, a project focused on training AI models, which starts with 400 MW of IT capacity and has the potential to scale up to 1 GW.
Q1 2026 Results
Grenergy has also presented its results for the first quarter of 2026. The company reported revenues of €143 million (compared to €237 million in the same period of the previous year), EBITDA of €5 million (vs. €62 million), and net profit of €2 million (vs. €32 million). Furthermore, it increased its capital expenditure (CAPEX) by 59% to €132.5 million.