Grenergy Renovables is a Spanish Independent Power Producer (IPP) that designs, develops and executes renewable energy plants on a large scale
Grenergy was founded in 2007 by entrepreneur and investor David Ruiz de Andrés, with the aim of developing and building solar plants in Spain. In 2012, Grenergy expanded into Latin America, and currently has offices in Mexico, Chile, Peru, Colombia and Argentina, though is still headquartered in Madrid, Spain.
To date, it has developed and built over 100MW of solar and wind energy projects in Spain, and has a portfolio of around 1.000MW in Latin America. It has close to 130MW of solar projects in Chile either under construction or already connected, mostly under the modality of PMGDs (Small Means of Distributed Generation).
Grenergy connected its first PMGD project in Chile in November 2015, and currently has close to 70MW connected and under operation, with another 30MW currently under construction and a pipeline in the country of over 350MWs.
In February 2016, Grenergy was awarded 2 wind energy projects totaling 36MW in Peru, offering what, at the time, was the most competitive energy price in the continent at 36,7$/MWh. It was also awarded 30MW of solar energy in September 2016 in Mexico’s public auction and bought in 2017 a wind project of 24MW in Chubut, Argentina.
The 8th of July 2015, Grenergy decided to undergo its Initial Public Offering (IPO), making its debut on the Spanish stock exchange.
By going public, Grenergy strengthened its balance sheet and facilitated access to other capital markets and financing channels, to be able to undertake its ambitious expansion plan centered around Latin America.
Founding of Grenergy Renovables
Real Decreto 661/2008. Construction, financing and sale of our first PV plants. Outsourcing of EPC, buying of PLA’s (permits, licenses and authorizations).
Real Decreto 1578/28. Expansion of our business model. Grenergy becomes an IPP, vertically integrating all the phases in a PV Project: development, construction and operation of proprietary plants.
Consolidation of IPP model. Construction of first large plants in Murcia and Avila of 2MW each.
Diversification of our activity: Construction and operation of a 4MW agro-energetic greenhouse in Granada. Opening of our first Latin American subsidiary in Chile.
Construction of our last plants in Spain under FiT: various rooftop PV plants in Cordoba and Granada. Opening of subsidiary in Mexico and start developing wind energy plants.
Opening of subsidiary in Peru. First plants R2B in Chile and sale of assets in Spain.
Consolidation of our pipeline in Chile, Mexico and Peru with over 1.000MW in development distributed between WIND & SOLAR; Grenergy has one of the most diversified and attractive pipelines in Latin America and begins the construction of its first plants in Chile.
Grenergy grows in Latin America: financed and operational projects in Chile and national auctions being awarded to a wind project in Peru and a solar project in Mexico
Grenergy signs its first transactions of PMGD with different investors in Chile for a total volume of 130MW. Within this year it has transferred so far 40MW of operating projects.
Grenergy opens its fifth subsidiary in LATAM, in Buenos Aires, Argentina. We are working on financial closing of wind projects in Peru and Argentina, as the construction of both projects is foreseen for this year.