Press Releases — Grenergy lays the first stone for Monte Águila hybrid plant in Chile

• With an investment of US$264 million, the plant will have 340 MW of solar power and 960 MWh of energy storage
• It is part of the Central Oasis platform, with 1.1 GW of solar power and 3.8 GWh of storage, which is scheduled to begin operating in early 2027
• In April this year, the company signed a base load PPA with Codelco to supply 0.5 TWh of green energy per year, 24 hours a day, seven days a week, for a period of 15 years coming from Central Oasis

Madrid, October 10, 2025. Grenergy has held this Thursday the ceremony of the first stone for the Monte Águila hybrid solar power and storage plant, located in El Cabrero, in the Biobío region, one of the phases that make up the Central Oasis project in Chile.

The plant represents an investment of $264 million and will have an installed capacity of 340 MW of solar energy and 960 MWh of battery storage. The plant is expected to be connected in early 2027.

The event has been attended by the Minister of Finance, the Minister of Economy, Development and Tourism, and the Minister of Labour and Social Security, as well as other local institutional representatives and representatives from the country’s energy sector.

Monte Águila is part of the Central Oasis platform, promoted by Grenergy in central Chile. This platform has a projected capacity of 1.1 GW of solar energy and 3.8 GWh of storage and includes five phases planned to come into operation in 2027.

All phases already have power purchase agreements (PPAs) in place, including the first base load PPA—for continuous 24/7 supply—signed with Codelco, the Chilean state-owned company and the world’s leading copper producer.

Central Oasis aims to replicate the successful hybridisation model developed by Grenergy at Oasis de Atacama, one of the world’s largest battery platforms and the first in Latin America, located in northern Chile. This project has a projected capacity of 2 GW and 11 GWh of storage, and is expected to be completed in 2027, with a total estimated investment of €2 billion.

Expansion of the Oasis model

The success of the Atacama and Central Oasis platforms in Chile sets the stage for a new generation of hybrid projects that the company plans to roll out in other markets, including Spain.

In line with its 2025-2027 strategic plan, presented at its latest Capital Markets Day in London, the company plans to transfer this model to the Escuderos plant, located in Castilla-La Mancha. This plant, which is expected to reach 200 MW of solar power and 704 MWh of storage, is set to become a European benchmark in solar hybridisation and energy storage, replicating the model developed in Chile.

In addition, the company has also announced Greenbox, the stand-alone battery platform in Europe that is another key part of its strategic plan. This initiative continues to progress at a good pace with Oviedo (Spain) as its flagship project. Thanks to initiatives such as this, Grenergy is strengthening its leading position in hybrid renewable energy generation and storage solutions.

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.