Grenergy (renewable energy company) has opened a reverse auction in Chile for the sale of 1.5 terawatt-hours per year of energy drawn from solar and battery storage plants across the northern and central regions of the country, with supply scheduled to begin between the second and third quarters of 2028.

Auction Structure and Timeline

The auction is being managed through Grenergy's Chilean subsidiary, GR Power, and targets generators, retailers, and large consumers seeking to secure long-term competitive energy supply.

The total volume on offer is divided into 20 GWh contracting units, allowing participants to bid for the full amount or any portion of it. Bidders can select from contract tenors of 6, 8, 10, 12, or 15 years depending on their hedging requirements.

A consultation period runs until July 7, with a registration deadline of July 22. Applications are being handled through the Match Energía power marketplace.

Energy Mix: Battery Storage and Solar Photovoltaic

Of the 1.5 TWh on offer annually, 960 GWh per year will come from battery-stored energy injected during the nighttime period, with the remaining 540 GWh coming from solar photovoltaic generation during daylight hours. The energy originates from multiple Grenergy plants located across the northern and central parts of Chile.

The combination of battery dispatch and solar generation reflects the company's established hybrid model, which it has developed and refined through its flagship Oasis Atacama platform in Chile's northern Atacama region. That platform is currently operating 2.5 gigawatts of solar capacity alongside 14 GWh of storage.

A Third Iteration of Grenergy's Own Auction Model

Grenergy describes this as the third time it has launched its own renewable energy reverse auction. The company says it became the first clean energy producer in Latin America to conduct such an auction when it launched the initial process in March 2022.

The auction model is designed to broaden access for a wider range of generators, retailers, and corporations seeking clean and stable energy at competitive prices.

The latest auction follows a series of commercial agreements and project milestones Grenergy has announced in Chile in recent months. On June 30, the company signed a 1 TWh per year nighttime power purchase agreement for a term of 15 years.

On June 9, it inaugurated a facility it described as the largest battery plant in the Americas, an event attended by Chilean President José Antonio Kast. On June 1, the company signed a hybrid power purchase agreement for phase five of its Oasis de Atacama project.

Expanding the Oasis Model to Central Chile

Building on the Oasis Atacama platform in the north, Grenergy is now developing Oasis Central in the center of the country. That project adds 1.4 gigawatts of solar capacity and 5.1 GWh of storage to the company's Chilean footprint.

In May, Grenergy secured a USD 268 million financing package for the Central Oasis project, and in March, it acquired 2.6 GWh of batteries from BYD Energy Storage for the same development.

Grenergy has been operating in Chile since 2012 and describes the country as the center of its growth in Latin America, where it also has operations in Peru, Mexico, and Colombia.

The company states it has established itself as one of the leading foreign investors in energy in Chile and as a benchmark in solar and storage integration in the region.

Company Profile and Global Portfolio

Grenergy is a Spanish multinational clean energy producer founded in 2007. It has been listed on the Spanish stock exchange since 2015 and carries a market capitalization of more than USD 3.99 billion.

The company employs more than 600 people and operates across Europe, North America, and Latin America. Its European operations span Spain, Italy, Germany, Poland, Romania, and the United Kingdom, while it also maintains a presence in the United States.

Globally, Grenergy reports a portfolio of 12 gigawatts of solar capacity and 71 GWh of storage capacity across various stages of development. In May, the company announced an increase in its investment plan, raising the figure to USD 4.22 billion through 2028. It has also recently expanded its battery supply agreements in Europe, signing a deal with CATL in May for 1.5 GWh of batteries for projects in Spain.

The company states it is now applying its Chile-developed hybrid model to its European expansion while continuing to deepen its commitment to the Chilean market through new solar capacity, additional storage, and what it describes as new digital infrastructure supporting the country's energy transition.

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