Grenergy looking to raise US$95m to accelerate growth in Europe and storage development

Facebook
Twitter
LinkedIn
Reddit
Email
Germany will be the first country of which Grenergy will expand its European presence with a projected pipeline of 3GW by 2025. Image: Grenergy.

Spanish developer Grenergy has launched a €90 million (US$94.8 million) accelerated capital increase to fuel growth in Europe and develop its energy storage capacity.

Grenergy welcomed the entrance of international investors that will help maintain the pace of its growth in Europe and the US after announcing earlier this year it was eyeing to enter into five new countries in wake of the REPowerEU plan.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Germany will be the first among the countries the company is expanding to, with the first solar PV developments starting in 2023 and with a pipeline of more than 3GW under development by 2025.

Meanwhile, the developer has already set up storage divisions in the three main markets it is located – The US, Latin America and Europe – with the goal to make energy storage an “essential element” in the energy transition. The purchase of 40% of solar PV and battery storage developer Sofos Harbert Renewable Energy in the US will play an important role for the company’s growth in the US, both for solar and storage projects.

David Ruiz de Andrés, CEO and founder of Grenergy, said: “This capital increase shows the support of investors in the company and allows us to consolidate as a relevant European actor in renewable energy and in new storage technologies.”

Furthermore, its maximum shareholder, David Ruiz de Andrés, has committed to subscribe for new shares up to 10% of the capital increase.

Earlier this month PV Tech Premium spoke with David Ruiz de Andrés about the company’s expansion growth in Europe and its vision on co-located projects as the future for solar PV.

Read Next

September 12, 2025
German trade association BSW-Solar has called the German government for a simplified, standardised and more digitalised grid access for solar PV and energy storage operators.
September 10, 2025
A project claimed to be Germany’s largest agriPV plant has been commissioned in the north-east of the country.
September 9, 2025
The US is forecast to reach between US$55-60 billion in clean energy tax credit monetisation in 2025, according to a report from clean energy financing technology platform Crux.
September 4, 2025
Fraunhofer ISE has completed testing work of grid-forming inverters currently available in the energy industry.
September 2, 2025
The Fraunhofer Institute for Solar Energy Systems (ISE) will build a pilot solar cell line in Germany to support US manufacturer Talon PV’s efforts to establish solar cell capacity in the US.
September 2, 2025
Spanish construction firm GES (Global Energy Services) has secured a contract to build a roughly 700MW solar-wind-storage hybrid project in Chile.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines
Solar Media Events
October 7, 2025
San Francisco Bay Area, USA