Company type | Private |
---|---|
ISIN | ES0105079000 |
Industry | Renewable Energy |
Founded | 2007 |
Founder | David Ruiz de Andrés |
Headquarters | Madrid, Spain |
Area served | Europe, Latin America, United States |
Revenue | €400 M (2023) |
Number of employees | 600 (2023) |
Website | https://grenergy.eu/en/ |
Grenergy is a Spanish company founded in 2007. It is an independent renewable energy producer and a specialist in the development, construction and operation of photovoltaic and storage projects. It is present in 10 countries in Europe, Latin America and the United States. In 2023, with more than 600 employees, it posted a net profit of €51 million, a fivefold increase compared to 2022. In terms of total revenue, it rose to €400 million, 37% higher than in 2022.
History
Grenergy was founded in Spain by economist David Ruiz de Andrés. It started its first projects in Spain (2008-2012) with solar farms in the provinces of Cuenca, Toledo, Sevilla, Granada and Ávila. The company chose Chile for its Latin American expansion, which began in 2014, after incentives for the sector were curbed in Spain.
In 2016, it was awarded the construction and development of two wind farms in Cajamarca (Peru), and continued with the construction of two solar plants in Colombia and Mexico.
It began operating in Italy, and the United Kingdom in 2020, and began operating in Germany in 2022. It entered the United States by acquiring a 40% stake in Sofos Harbert Renewable Energy, a photovoltaic and battery project developer. A year later, it succeeded in acquiring 100% of the company, which has been renamed Grenergy US.
IPO
In 2015, the company began trading on the Mercado Alternativo Bursátil (MAB - now known as BME Growth) of the Spanish Stock Exchange. In 2019, it made the jump to the continuous market. In 2021, the company registered its first green bond program, a debt issuance aligned with the International Capital Market Association's (ICMA) Green Bond Principles 2021 and the Loan Market Association's (LMA) Green Loan Principles 2021. The company signed the first green financing linked to sustainability in Spain with Banco Santander in 2023.
Pipeline
It has a portfolio of 15.9 gigawatts (GW) of solar PV and 21.7 GWh of storage in various stages of development:
Oasis de Atacama
Located in the Atacama Desert (Chile), it is made up of 2 GW of solar and 11 gigawatt hours (GWh) of storage. It acquired 1 GW of solar from Repsol and Ibereólica, including the 1 GW energized line.
Grenergy has an agreement with BYD - a Chinese battery manufacturer - to supply large-scale storage systems with a total capacity of 3 GWh. It has power purchase agreements with companies such as EMOAC in Chile.
GranTeno
It has a capacity of 241 MWp and is located in the Maule region, in south-central Chile. Its construction, with sustainable financing from BNP Paribas and Société Générale, amounted to 136 million euros ($148 million). A long-term Power Purchase Agreement (PPA) signed with an international utility company will provide 140 GWh per year for 12 years. It is Grenergy's largest PV plant in operation to date (2024).
Other projects
The portfolio includes the Escuderos photovoltaic plant (Cuenca). It has a capacity of 200 MW and will supply energy to Galp. With financing from KFW and Bankinter, the company secured 110 million euros for the construction.
The Tabernas Plant (Almería), with a capacity of 250 MW and an estimated annual production of 466.6 GWh, will sell its energy to Amazon. It is operating with green financing of 175 million euros. In addition, it has signed an agreement with Ingeteam for the supply of 70 state-of-the-art inverters.
There are another 80 Grenergy photovoltaic plants in Chile.
References
- Eduardo Inmedia Cano "Grenergy Renovables" Renta4 Banco (September 15, 2015)
- "Grenergy quintuplica su beneficio en 2023, hasta 51,1 millones, con ingresos récord de 400 millones" El periódico de la energía (February 28, 2024)
- Sustainability Report 2023. Grenergy.
- "Grenergy posts five-fold profit boost in 2023" Renewables Now (Marche 8, 2024)
- Advisory, Probuen (2022-03-15). "GRENERGY RENOVABLES: Fuerte crecimiento en el pasado, expectativas futuras". Probuen | Actividad corporativa & inmobiliaria (in Spanish). Retrieved 2024-10-08.
- Radomir Ralev "Grenergy Renovables launches 2 MW in rooftop PV plants" Renewabkes Now (March 25, 2013)
- Ivan Sumkov "Grenergy sells 4 MW of PV in Spain" Renewables Now (Jan 26, 2016)
- Diana Hristova "Grenergy Renovables seeks to build 40-MW solar park in Chile" Renewables Now (May 21, 2014)
- "Grenergy se adjudica dos parques eólicos en Perú con 36 MW". www.expansion.com. Retrieved 2024-10-08.
- ^ Sánchez Molina, P. "Grenergy sale al mercado italiano" Pv Magazine (November 15, 2020)
- Sánchez Molina, P . "Grenergy busca seguir creciendo en Europa y entra en almacenamiento" pv Magazine (July 19, 2021)
- Alba Pérez "Grenergy entra en Alemania con el objetivo de 3 GW de 'pipeline' antes de 2025" El economista.es (June 16, 2022)
- Alba Pérez "Grenergy entra en Estados Unidos con la compra del 40% de Sofos Harbert". El economista.es (August 28, 2022)
- Yuen, Simon (2023-02-14). "Grenergy bolsters business in US by taking full control of Sofos Harbert". PV Tech. Retrieved 2024-10-17.
- DÍAS, CINCO (2023-02-14). "Grenergy se consolida en EE UU con la compra del 100% de Sofos Harbert". Cinco Días (in Spanish). Retrieved 2024-10-08.
- Fariza, Ignacio (2023-11-21). "Grenergy construirá en Chile la mayor batería del mundo para almacenar energía solar". El País (in Spanish). Retrieved 2024-10-08.
- "Grenergy protagonizará el 13 de diciembre la única salida a Bolsa del año". EXPANSION (in Spanish). 2019-12-03. Retrieved 2024-10-08.
- Sanchez Molina, P. "Grenergy registra el primer programa de pagarés verdes en España por 100 millones de euros" pv Magazine (September 16, 2021)
- "Grenergy firma con Banco Santander una financiación corporativa verde asegurada por Cesce de 147 millones". Europa Press. 2023-11-13. Retrieved 2024-10-08.
- Pepe García "Grenergy aumenta un 27% su beneficio a seis millones de euros en el arranque del año" El economista.es (May 23, 2024)
- ^ DÍAS, CINCO (2024-09-23). "Grenergy invierte 128 millones para duplicar su generación de fotovoltaica en el Oasis de Atacama". Cinco Días (in Spanish). Retrieved 2024-10-08.
- "Grenergy secures PPA for 260 MW-1,100 MWh of solar-plus-storage in Chile". pv magazine International. 2024-01-25. Retrieved 2024-10-17.
- "Grenergy y BYD amplían su acuerdo de baterías hasta los 3GWh para Oasis de Atacama" El periódico de la energía (September 13, 2024)
- Djunisic, S.: "Grenergy signs PPA for solar storage power in Chile" Renewables Now (Nov 17,2023)
- "Grenergy cierra la financiación verde de dos parques solares de 300 MW en Chile por 136 millones de euros". Europa Press. 2023-07-03. Retrieved 2024-10-08.
- Estratégica, Energía (2023-06-30). "Grenergy firma un PPA en Chile para su planta solar Gran Teno de 241 MW". Energía Estratégica (in Spanish). Retrieved 2024-10-08.
- "Emiliano García-Page pone la primera piedra del parque solar de Escuderos de Grenergy – SOLARNEWS" (in Spanish). Retrieved 2024-10-08.
- "Grenergy cierra la financiación verde de su parque solar en Cuenca por 110 millones" El economista.es (December 23, 2020)
- Gómez, Iván (2024-06-25). "El gigante fotovoltaico de Grenergy avanza en Tabernas: energía verde para 126.300 hogares". Diario de Almería (in Spanish). Retrieved 2024-10-17.
- Gómez, Iván (2024-06-25). "El gigante fotovoltaico de Grenergy avanza en Tabernas: energía verde para 126.300 hogares". Diario de Almería (in Spanish). Retrieved 2024-10-08.
- "Grenergy estrena en Chile su mayor planta fotovoltaica sostenible, de 241 megavatios". La Información (in European Spanish). 2024-03-13. Retrieved 2024-10-08.