Grenergy Renovables S A : signs a 400 GWh/year hybrid PPA in the United States

About this update from Grenergy Renovables S.a

The company will supply energy and renewable attributes to Georgia Power through the Beaver Creek hybrid project (229 MW solar and 183 MWh battery storage) The 20-year agreement covers 100% of the project's output and will come into effect in May 2029Madrid, May 20, 2026. Grenergy has signed a long-term power purchase agreement (PPA) with Georgia Power for the sale of energy and renewable attributes over a 20-year period, as part of the Clean and Renewable Energy Subscription (CARES) 2023 program. The contracted volume will cover 100% of the output from the Beaver Creek hybrid project, estimated at approximately 400 GWh per year. Battery market operations will be managed by Georgia Power. The Beaver Creek project, located in Baldwin County, Georgia, will feature 229 MW of solar capacity and 183 MWh of battery storage. Commercial operation is expected to begin in the third quarter of 2028, with the PPA taking effect in May 2029. Grenergy has been active in the U.S. market since 2022, with its operational headquarters in Birmingham, Alabama. The company currently has a portfolio of 1.2 GW of solar capacity, 1.7 GWh of hybrid projects, and 2.3 GWh of stand-alone storage projects. It already operates two stand-alone storage facilities: Stadium (25 MWh) and La Feria (25 MWh), both located in Texas. The company aims to capitalize on the strong growth of data centers and the rise of artificial intelligence in the country, which are driving unprecedented energy demand and increasing the need for firm capacity and storage solutions. In this context, Grenergy seeks to replicate in the United States the PV + BESS model it has successfully established in Chile and is now also expanding across Europe. According to David Ruiz de Andrés, CEO of Grenergy: "Energy demand in the United States is growing at an extraordinary pace, mainly driven by AI. We are seeing very clear opportunities to develop projects with strong returns and value creation potential, especially in the Southeast." About Grenergy Grenergy is a Spanish multinational clean energy producer. Founded in 2007, the company has been listed on the Spanish stock exchange since 2015 and currently has a market capitalization of over €3.5 billion. Grenergy develops, builds, and operates photovoltaic solar plants and is also a pioneer in the energy storage industry. With a team of more than 600 professionals, the co...

View stock analysis, news, and events for Grenergy Renovables S.a