Grenergy and BYD sign a strategic agreement on energy storage for the supply of 1.1 GWh

January 16, 2024

PRESS RELEASE: Grenergy has signed a strategic agreement with BYD, a hightech multinational company, for the supply of large-scale energy storage systems (ESS)through batteries with a capacity of 1.1 GWh.

As part of this collaboration, BYD will provide Grenergy with a total of 2,136 devices of itsMC Cube ESS model. It is a storage system with the Blade battery, which stand out for having a high level of safety, a longer duration than the market and high performance.

Grenergy will install them in the first and second phases of the Oasis de Atacama project.With a global capacity of 4.1 GWh and 1GW solar, it is the largest storage project in the world and comprises a total investment of US$1.4 billion.

The first of these phases is scheduled to be operational in 2024, while the second will be operational in 2025.The alliance represents a further step in Grenergy’s growth plan closely linked to energy storage. This is a segment in which the company has a leading position and in which it plans to invest EUR800 million to boost batteries, as revealed during the Capital MarketsDay.

Currently, the company has a portfolio of more than 10 GWh of energy storage indifferent stages of development."The agreement with a leading company like BYD demonstrates our firm commitment to energy storage and represents a major step forward in securing the supply needed to beable to develop and build the battery projects we have recently announced," said DavidRuiz de Andrés, CEO of Grenergy.

"The Oasis de Atacama project in Chile, in partnership with a leading and global company such as Grenergy, is a new milestone for BYD Energy Storage in its current business landscape with a presence in more than 70 countries. It is also a firm step towards realizingBYD's 'Three Green Dreams' – creating a clean and sustainable world comprised of electric vehicles, solar energy and energy storage systems," said Guo Bin, Overseas Sales Managing Director of BYD Energy Storage.

About Grenergy Renovables:

Grenergy Renovables is a Spanish company created in 2007, an independent producer of energy from renewable sources, mainly photovoltaic and storage, listed on the Spanish stock exchange since 2015. Its business model covers all project phases, from development, through construction and financial structuring to plant operation and maintenance. The company has a global platform of more than 15 GW of solar and 10 GWh of storage in various stages of development in the eleven countries where it operates in the European (Spain, Italy, Germany, Poland and the UnitedKingdom), North American (United States) and Latin American (Chile, Peru, Mexico and Colombia)markets.

About BYD and BYD Energy Storage:

BYD Company Limited ("BYD") was founded in 1995 and is headquartered in Shenzhen, China. BYD operates in four sectors: Automotive, Rail Transit, New Energy and Electronics. In 2008, BYD introduced the concept of "Three Green Dreams": Solar, Energy Storage and Electric Vehicles(EVs). That same year, BYD Energy Storage was founded, specializing in research and development, manufacturing, marketing, service and recycling of energy storage products. The company has successfully supplied safe and reliable energy storage solutions for hundreds of utility-scale, commercial, industrial, and residential projects worldwide, spanning more than 400cities and more than 70 countries and regions, including the United States, United Kingdom,Germany, South Africa, Switzerland, Italy, and Japan.

More information:

Grenergy Renovables

Paula Lacruzplacruz


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