en.Wedoany.com Reported - A global utility company with an investment-grade rating from major credit rating agencies has signed a 15-year long-term Power Purchase Agreement (PPA) with Grenergy, stipulating an annual supply of 1 terawatt-hour (TWh) of electricity, scheduled to take effect between July and October 2026. This contract, covering non-solar hours, is Grenergy's largest energy sales agreement to date.

The electricity under the PPA will come from the Elena project in the Antofagasta region of Chile. This project is the largest operational battery energy storage project in the Americas, with a total installed capacity of 3.5 gigawatt-hours (GWh) (net capacity 3 GW), and plans to expand to 7 GWh (net capacity 6 GW), comprising 624 battery containers and 6,240 battery cells.

The signing of the PPA coincides closely with the inauguration ceremony of the Elena project, which was presided over by Chilean President José Antonio Kast Rist, with attendance from officials including Energy Minister Ximena Rincón and Minister of Science, Technology, Knowledge, and Innovation Ximena Lincolao. Elena is the largest project Grenergy has developed to date.

Elena is part of Grenergy's solar and energy storage platform, Oasis de Atacama. According to the company's 2028 roadmap, this platform has recently been expanded to 2.5 gigawatts (GW) of solar capacity and 14.1 GWh of storage capacity. This solar-plus-storage hybrid model is being replicated through Oasis Central in central Chile (1.4 GW solar, 5.1 GWh storage) and exported to Spain's Iberian Oasis (1 GW solar, 3.2 GWh battery energy storage system). The entire OASIS platform totals 5 GW of solar capacity and 22 GWh of storage.

Grenergy CEO David Ruiz de Andrés stated that this agreement is the largest energy sales contract the company has ever signed, enhancing business visibility, stability, and resilience, while providing long-term security for the Elena project, which has the potential to double its capacity in a short period. He noted that this transaction further strengthens Grenergy's operations in Chile and demonstrates the company's path forward for its hybrid platform strategy in Spain.