Spanish independent power producer (IPP) Grenergy has rolled out a reverse auction in Chile to market 1.5 TWh of annual renewable power generated by its local solar PV and battery energy storage (BESS) assets, the firm announced.

Managed by Grenergy’s Chilean subsidiary GR Power, the competitive tender targets power generators, electricity retailers and large industrial energy buyers seeking long-term clean power contracts.

The 1.5 TWh yearly supply package is split into two segments: 960 GWh per year of dispatchable battery-stored energy for off-peak nighttime delivery, plus 540 GWh per year of daytime solar PV output. Power will be sourced from Grenergy’s hybrid facilities across northern and central Chile, with commercial deliveries set to kick off between Q2 and Q3 2028.

Market participants may bid for the full energy volume or select standard 20 GWh contract blocks, with deal tenors spanning six to 15 years. All auction procedures run via the Match Energía digital marketplace. Stakeholders can submit inquiries until July 7, while official registration closes on July 22.

This marks Grenergy’s third self-hosted renewable energy reverse auction, following its pioneering maiden Latin America auction launched back in 2022. The tender forms a core part of the developer’s broader expansion of hybrid solar-plus-storage capacity throughout Chile.

Grenergy’s flagship Oasis de Atacama complex already hosts 2.5 GW solar PV paired with 14 GWh of battery storage. Its upcoming Oasis Central project in central Chile will add another 1.4 GW solar capacity and 5.1 GWh of energy storage to the regional portfolio.

The Madrid-based IPP has upgraded its cumulative capital expenditure plan up to 2028 to €3.7 billion (USD 4.2 billion), prioritizing standalone BESS and hybrid solar-storage projects in Europe and Chile. Of the €1.5 billion budget earmarked for 2028, Europe and Chile each account for roughly 45% of total investment, with the U.S. making up the remaining 5%.