Grenergy buys 1.1 GWh of BYD batteries for storage project in Chile
Spanish renewables company Grenergy Renovables SA (BME:GRE) has signed an agreement with China’s BYD Co Ltd (SHE:002594) to procure the first batch of batteries for its colossal USD-1.4-billion (USD 1.28bn) Oasis de Atacama solar-plus-storage project in Chile.
With a planned total capacity of 4.1 GWh of batteries and 1 GW of solar, Oasis de Atacama is hailed by Grenergy as the world’s largest storage project.
The Spanish firm said on Friday that it had closed the purchase of 1.1 GWh of BYD’s large-scale energy storage systems (ESS), intending to use them for the first and the second phase of the Oasis de Atacama project. Under the agreement, the Chinese battery and auto maker will supply 2,136 MC Cube ESS units.
The first phase is slated for operation in 2024, followed by the second phase in 2025, Grenergy said.
Oasis de Atacama kicks off Grenergy’s investment plans into energy storage. The company attached its growth to this market segment, committing to invest EUR 800 million in storage projects during the next two years.
"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 be able to develop and build the battery projects we have recently announced," said Grenergy CEO David Ruiz de Andres.
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