- Grenergy unveils $2.4 billion investment for solar storage power.
- By 2026, targets include 5GW solar capacity and 4.1GWh in energy storage.
Spanish renewable energy firm Grenergy plans to invest 2.6 billion euros ($2.84 billion) in the next three years to expand solar power generation and battery storage. By 2026, they aim to increase solar capacity to 5 gigawatts (GW) and reach a renewable energy storage capacity of 4.1 gigawatt-hours (GWh).
The company intends to sell part of these assets yearly, expecting around 600 million euros by 2026. Grenergy targets earnings between 250 million euros and 300 million euros by 2026 from its energy business. Their net profit soared six-fold in the first nine months of this year, boosted by asset sales and growing energy production.