en.Wedoany.com Reported - Grenergy, through its subsidiary GR Power, has launched a reverse auction in Chile to commercialize 1.5 TWh of renewable energy annually. The auction is open to generators, marketers, and large consumers, who can secure power supply through long-term contracts linked to the company's solar and storage assets.

The electricity offered in the auction consists of two parts: 960 GWh per year from battery storage for nighttime supply, and 540 GWh per year from daytime solar photovoltaic generation. Power supply is scheduled to begin in the second to third quarter of 2028.

The auction is structured in contract units of 20 GWh, allowing participants to purchase all or part of the volume. Contract terms are available in options of 6, 8, 10, 12, or 15 years to accommodate different energy risk management needs.

The preliminary consultation phase ended on July 7, and the auction remains open until July 22. Registration is conducted through the electricity trading platform Match Energía.

This is the third renewable energy auction directly organized by Grenergy. The company stated that in 2022, it became the first renewable energy producer in Latin America to use this business model, aiming to expand access to long-term renewable energy supply contracts for marketers, generators, and industrial consumers.

The electricity will come from various solar power plants and energy storage systems operated by Grenergy in northern and central Chile. The company has developed a hybrid model locally that combines photovoltaic generation with large-scale batteries: in the Atacama Desert, the Oasis Atacama platform already has 2.5 GW of photovoltaic capacity and 14 GWh of storage capacity; while the Oasis Central project, developed in the central region, will add 1.4 GW of solar power and 5.1 GWh of battery capacity.

The company stated that the experience gained from these development projects will serve as the foundation for replicating this hybrid model in other international markets, particularly Europe.

Grenergy currently has a global portfolio of 71 GWh of energy storage projects and 12 GW of photovoltaic projects, all at various stages of development.