Press Releases — H1 2025 Results: Grenergy increases its EBITDA by 176% to €86 million and doubles its investment

Madrid, September 25, 2025. Grenergy has closed the first half of 2025 with solid progress across all its financial indicators. The company has achieved revenues of €438 million, representing an increase of 128% over the same period last year. EBITDA stood at €86 million, with an increase of 176%. Net profit amounted to €35 million.

Investment (CAPEX), mainly allocated to solar hybridization projects with storage (PV+BESS), has amounted to €421 million at the end of the first half of 2025, representing an increase of 177% compared to the same period last year. This progress brings Grenergy closer to its investment target of €3.5 billion set for 2027.

Net debt stands at €815 million, with a leverage ratio of 3.8x. Meanwhile, the company’s pro forma debt — including the latest asset rotation agreements — has been reduced to 0.2x. This development has enabled the company to double its level of investment compared to the previous period and achieve a cash position of close to €300 million.

This performance has been driven by recent asset rotations in Chile, as well as a 33% increase in energy sales.

Overall, the asset rotation of the Atacama Oasis project has reached an enterprise value (EV) of $1.437 billion to date. The funds obtained through these transactions already represent 55% of the asset rotation target set for the 2025–2027 period.

Grenergy has recently closed the sale of Phase 4 of its mega battery project in Chile — one of the largest in the world — located in Oasis de Atacama, to the fund DIF Capital Partners (CVC) for up to $475 million. This phase includes 272 MW of solar power and 1.1 GWh of storage capacity.

Oasis Platforms

Oasis de Atacama, the mega battery project located in northern Chile, has made significant progress in recent months. In addition to finalising the sale of Phase 4 (Gabriela), Grenergy has secured non-recourse financing of $270 million for Phase 6 (Elena), which will install 3.5 GWh of battery capacity. This operation has been backed by an international syndicate of banks. With this, the project has secured a total of $1.237 billion in non-recourse financing.

The Quillagua 1 and 2 plants are already operational and integrated with BESS systems. Víctor Jara is close to being connected, allowing further progress to be made with the development of the remaining phases of the project.

Central Oasis, the hybridisation platform located in central Chile, already has significant power purchase agreements (PPAs) in place. In addition, the groundbreaking ceremony for the Monte Águila plant, one of the largest in the region, is scheduled to take place on 9 October.

Greenbox, the stand-alone battery platform in Europe announced by the company during its last Capital Markets Day, continues to progress at a good pace, with Oviedo (Spain) as its flagship project.

According to David Ruíz de Andrés, CEO of Grenergy: ‘We have made solid progress across all our financial metrics. We continue to strengthen our execution capacity and close major deals as part of our asset rotation strategy. This allows us to improve our financial position, multiply our CAPEX investment and move ever closer to our investment target of €3.5 billion by 2027.’

In terms of sustainability, Grenergy has obtained an A- rating in the 2024 CDP Supplier Engagement assessment and has been included in the IBEX ESG index. This is in addition to its strong positioning in the sector’s main ESG ratings, such as S&P (67/100), MSCI (AAA), Sustainalytics (10.6 – low risk), ISS ESG (A-) and EthiFinance (78/100). In addition, the company has recently published its new Biodiversity Policy and Sustainability Report in accordance with the CSRD directive.

About Grenergy

Grenergy is a Spanish multinational clean energy producer. Founded in 2007, it has been listed on the Spanish stock exchange since 2015 and currently has a market capitalization of around €2 billion. The company develops, builds, and operates photovoltaic solar plants and is a pioneer in the energy storage industry.

With a team of over 700 professionals, Grenergy operates across three key regions: Europe (Spain, Italy, Germany, Poland, Romania, and the United Kingdom), North America (United States) Latin America (Chile, Peru, Mexico, and Colombia). Its global portfolio exceeds 77.9 GWh of storage capacity and 12.5 GW of solar power in various stages of development.

Thanks to its strong commitment to battery technology, Grenergy can deliver clean, affordable, reliable, and continuous energy—anywhere, anytime, 24/7.