Grenergy Signs 10-Year Oviedo Battery Toll

Why It Matters

The agreement demonstrates growing confidence in large‑scale battery storage as a core component of Spain’s renewable transition and positions Grenergy as a leading operator in the emerging European storage market.

Key Takeaways

• 150 MW/600 MWh battery signed 10‑year tolling deal.
• Spain's largest standalone storage project, operational 2027.
• Grenergy retains operations and trading under investment‑grade partner.
• Greenbox pipeline exceeds 30 GWh across six European countries.
• Deal marks first financial tolling agreement for Spanish storage.

Pulse Analysis

Spain’s aggressive renewable energy targets have heightened demand for flexible, grid‑scale storage solutions. Standalone battery systems like Grenergy’s Oviedo project provide rapid response capacity, helping balance intermittent wind and solar generation. By situating the 600 MWh facility adjacent to the La Estrecha substation, the developer minimizes transmission losses and maximizes market participation, reinforcing Spain’s ambition to achieve a carbon‑neutral grid by 2030.

The 10‑year financial tolling structure shifts market risk to a credit‑worthy utility while allowing Grenergy to focus on operational excellence and trading strategies. Under the agreement, the utility purchases the electricity output at a pre‑agreed price, guaranteeing revenue streams and enabling the project to secure financing at favorable terms. Grenergy’s retained responsibility for asset management ensures it can optimize dispatch, capture ancillary service revenues, and refine its proprietary Greenbox technology platform across multiple jurisdictions.

Beyond Oviedo, Grenergy’s Greenbox pipeline—spanning Poland, Romania, Germany, Italy, Spain, and the United Kingdom—totals more than 30 GWh, signaling a pan‑European rollout of modular storage assets. This scale-up aligns with the broader European Union push for grid resilience and decarbonisation, positioning Grenergy to capture a sizable share of the emerging storage market. As the first financial tolling deal for Spanish storage, the Oviedo contract sets a precedent that could accelerate similar partnerships, fostering deeper investor confidence and faster deployment of battery infrastructure across the continent.

Grenergy signs 10-year Oviedo battery toll

600 MWh project · largest standalone in Spain · 17 February 2026 11:06

Grenergy has signed a 10‑year financial tolling agreement for its 150 MW/600 MWh standalone battery project in Oviedo, the largest announced to date in Spain.

The company said the agreement, effective from January 2028, was signed with an international utility rated Investment Grade by Moody’s, with Grenergy retaining responsibility for asset operations and battery‑trading management.

Construction of the Oviedo project is already underway on a former industrial site next to the La Estrecha substation in La Corredoria, with operations expected to begin in the first half of 2027.

Grenergy stated that the four‑hour storage facility is the flagship Spanish project within its Greenbox standalone storage platform.

The company said Greenbox has a pipeline exceeding 30 GWh across Poland, Romania, Germany, Italy, Spain and the United Kingdom.

David Ruiz de Andrés, CEO of Grenergy, said:

“We are very proud of this financial tolling agreement. It's the first of its kind in Spain and, I am sure, the first of many within our stand‑alone Greenbox platform in Europe. We are going to replicate the success of the OASIS platforms in the European market, especially in Spain, where the potential is remarkable.”

Grenergy said Spain is set to become one of its key strategic markets as it deploys both standalone storage and hybrid projects.