Latest news with #Grenergy
BBC News
04-08-2025
- Business
- BBC News
Plan to build UK's largest battery storage facility near Corsham
Plans to build the UK's largest battery storage facility have been a renewable energy firm, wants to build a 450 megawatt (MW) battery energy storage system near Corsham, Wiltshire, that would store energy produced by solar farms and wind turbines to support the grid when company said the facility, which it plans to build at Neston Park Estate, could supply enough energy to power one million homes, five times the number of homes in Wiltshire, for an hour. If planning permission is granted by Wiltshire Council, Grenergy said it hoped to start work on the facility next year and have it operational by the end of 2027. If given the go-ahead, it would become the largest facility of its kind, topping the Lakeside Energy Park in Drax, North Yorkshire, which has a capacity of 100MW, according to the Local Democracy Reporting Service (LDRS).The facility would be half a mile from the village of Neston and residents have raised concerns about the visual impact of the development, the noise caused by cooling fans, and the risk of resident said it would have an impact locally and in surrounding villages, adding that it "is a cause of concern for us all". 'Reduce risk' The facility would include 108 shipping container-sized batteries along with an electricity substation, security fencing, lighting and CCTV said it would carry out "rigorous health and safety assessments"."The design of the system at Brockleaze has been optimised according to guidance to reduce any potential risk," it on the application can be made to Wiltshire Council before 28 August.
Yahoo
09-07-2025
- Business
- Yahoo
Plan for new energy storage system in Solihull village revealed
Residents don't have long left to have their say on a plan for an energy storage system in a Solihull village. Grenergy Renewables UK wants to develop 3.73 hectares of land in Benton Green Lane currently in agricultural use. The plan is for the Berkswell site to have a system which can store electricity to be used during fluctuations or in the event of a blackout. READ MORE: Solihull road could be safety upgrade 'special case' after two kids hit by car Get the latest court and crime news direct via our WhatsApp community here In a planning, design and access statement, included with the application, planning agent Lichfields says the site would include up to 56 battery containers, 14 power station units and a substation. The statement says: 'The proposed development would store excess energy and, in doing so, provide a short-term reserve power supply to the local electricity grid. 'It would also act as a fall-back energy source at times when sources of renewable energy and the grid are reduced or do not generate sufficient electricity to meet demand. 'The proposed development would meet a recognised national need for this type of development.' The planning agents argue the site is grey belt - low quality green belt which allows development - but say if council planners don't share that judgment 'very special circumstances' exist to allow building on the green belt land. The statement adds: 'The proposed development will deliver on national and local energy objectives and planning policy and benefit the local community by ensuring a stable energy supply is available. "Any potential harm to the green belt and inappropriate development is clearly outweighed by the economic, social and environmental benefits of delivering this scheme. 'Planning permission should be granted for this essential piece of renewable energy infrastructure.' As the Local Democracy Reporting Service recently reported a similar scheme on green belt land at Burton Green Farm went before council planners and was given the go-ahead on the basis there were special circumstances to allow it. Applicant for that scheme, Conrad Energy (Developments), argued it would help prevent blackouts similar to the one suffered in Spain earlier this year. The Benton Green Lane application was submitted to Solihull Council on June 6 and residents can now have their say. To view the plans and submit a comment search for application PL/2025/01145/PPFL at https// The closing date for consultation submissions is Wednesday, July 9.
Yahoo
23-05-2025
- Business
- Yahoo
Grenergy Renovables SA (XMAD:GRE) Q1 2025 Earnings Call Highlights: Record Growth and Strategic ...
Revenue: 237 million, an increase of 116% year-on-year. EBITDA: 62 million, representing a growth of 165%. Net Income: 32 million, a fivefold increase compared to the previous year. CapEx: 165 million, a 124% increase from the previous year. Net Debt: 3.7 times, similar to the previous year. Share Buyback: 27 million, representing 2.44% of the company at an average price of 37.75. Total Installed Capacity: Increased by 2%. Production Output: Increased by 52%. Contracted Volumes: Increased by 80%, representing 88% of total electricity production. Unrealized Price: 45 per megawatt hour, with merchant prices increasing by over 90%. Warning! GuruFocus has detected 8 Warning Signs with XMAD:GRE. Release Date: May 22, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Grenergy Renovables SA (XMAD:GRE) reported a significant increase in financial performance, with revenue doubling compared to the previous year, EBITDA nearly tripling, and net income increasing fivefold to 32 million. The company successfully closed $1 billion in financing for the Oasis of Atacama project, demonstrating strong execution in securing funding for large-scale projects. Grenergy has entered into a substantial agreement with BYD for 3.5 gigawatt hours of storage for the Oasis of Atacama project, highlighting its commitment to expanding storage capabilities. The company achieved a 52% increase in total energy output, driven by solar assets in Chile, and contracted volumes increased by 80%, representing 88% of total electricity production. Grenergy continues to enhance its sustainability efforts, publishing a climate change policy and aligning with European standards for non-financial reporting, which strengthens its ESG positioning. Despite positive EBITDA, Grenergy experienced negative working capital in Q1 2025, partly due to payments related to battery storage equipment. The company faces challenges with curtailment in Chile, which affects solar energy prices, although it is working to mitigate this through hybridization of projects. Grenergy's net debt remains high at 3.7 times, although it is expected to improve with future M&A activities. The company is heavily reliant on the Chilean market, which may pose risks due to market-specific challenges such as curtailment and price fluctuations. There is uncertainty regarding the exact CapEx per megawatt hour for new projects, with details expected to be disclosed at the upcoming Capital Markets Day. Q: Can you explain the expenditures and cash-ins of disposals this year, particularly regarding CapEx and proceeds from asset sales in Spain and the first three phases of Oasis de Atacama? A: We have two major deals impacting EBITDA this year. For Oasis de Atacama, we registered EUR110 million in 2024, with EUR55 million in Q1 sales. We expect total sales to reach EUR103 million this year, with around $70 million received in 2025. For the Allianz deal, we expect around EUR70 million EBITDA, with commercial operations mostly in Q3. Total equity recycling should be around EUR110 million. CapEx execution includes phases 1-4 of Oasis de Atacama and upcoming projects in Central Chile and Spain. Q: What caused the net working capital growth this quarter? Is it related to equipment or battery storage in Chile? A: The growth in net working capital is due to payments for batteries. Last year, we had a positive working capital of EUR200 million, so it's logical that payments for batteries are impacting this quarter's cash flow. Q: How do you see the price development for merchant energy in Chile, given your high contract rate? A: Merchant prices have improved compared to last year due to reduced curtailment. We are hybridizing projects to avoid cannibalization. As more batteries are introduced, we expect the price curve to flatten, moving cheap solar energy to night peak prices, which should increase solar prices and have a deflation effect at night. Q: Can you disclose the CapEx per megawatt for the deal with BYD, or do we need to wait for the Capital Markets Day? Also, what was the output in Q1 from Gran Teno and Tamango? A: We will provide CapEx guidance at the Capital Markets Day. The trend is positive, moving downwards, which is good for competitiveness in Europe. For production, Q1 output was 140 gigawatt hours, a significant increase from last year's 12 gigawatt hours. Q: Can you provide some color on curtailments in Chile this year compared to last year? A: Curtailments are present where there is more solar penetration. Lower solar prices help us create a business model capturing growth and returns. The electricity market in Chile, with its 13 different markets, is more affected by curtailments, but it presents an opportunity for us. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
23-05-2025
- Business
- Yahoo
Grenergy Renovables SA (XMAD:GRE) Q1 2025 Earnings Call Highlights: Record Growth and Strategic ...
Revenue: 237 million, an increase of 116% year-on-year. EBITDA: 62 million, representing a growth of 165%. Net Income: 32 million, a fivefold increase compared to the previous year. CapEx: 165 million, a 124% increase from the previous year. Net Debt: 3.7 times, similar to the previous year. Share Buyback: 27 million, representing 2.44% of the company at an average price of 37.75. Total Installed Capacity: Increased by 2%. Production Output: Increased by 52%. Contracted Volumes: Increased by 80%, representing 88% of total electricity production. Unrealized Price: 45 per megawatt hour, with merchant prices increasing by over 90%. Warning! GuruFocus has detected 8 Warning Signs with XMAD:GRE. Release Date: May 22, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Grenergy Renovables SA (XMAD:GRE) reported a significant increase in financial performance, with revenue doubling compared to the previous year, EBITDA nearly tripling, and net income increasing fivefold to 32 million. The company successfully closed $1 billion in financing for the Oasis of Atacama project, demonstrating strong execution in securing funding for large-scale projects. Grenergy has entered into a substantial agreement with BYD for 3.5 gigawatt hours of storage for the Oasis of Atacama project, highlighting its commitment to expanding storage capabilities. The company achieved a 52% increase in total energy output, driven by solar assets in Chile, and contracted volumes increased by 80%, representing 88% of total electricity production. Grenergy continues to enhance its sustainability efforts, publishing a climate change policy and aligning with European standards for non-financial reporting, which strengthens its ESG positioning. Despite positive EBITDA, Grenergy experienced negative working capital in Q1 2025, partly due to payments related to battery storage equipment. The company faces challenges with curtailment in Chile, which affects solar energy prices, although it is working to mitigate this through hybridization of projects. Grenergy's net debt remains high at 3.7 times, although it is expected to improve with future M&A activities. The company is heavily reliant on the Chilean market, which may pose risks due to market-specific challenges such as curtailment and price fluctuations. There is uncertainty regarding the exact CapEx per megawatt hour for new projects, with details expected to be disclosed at the upcoming Capital Markets Day. Q: Can you explain the expenditures and cash-ins of disposals this year, particularly regarding CapEx and proceeds from asset sales in Spain and the first three phases of Oasis de Atacama? A: We have two major deals impacting EBITDA this year. For Oasis de Atacama, we registered EUR110 million in 2024, with EUR55 million in Q1 sales. We expect total sales to reach EUR103 million this year, with around $70 million received in 2025. For the Allianz deal, we expect around EUR70 million EBITDA, with commercial operations mostly in Q3. Total equity recycling should be around EUR110 million. CapEx execution includes phases 1-4 of Oasis de Atacama and upcoming projects in Central Chile and Spain. Q: What caused the net working capital growth this quarter? Is it related to equipment or battery storage in Chile? A: The growth in net working capital is due to payments for batteries. Last year, we had a positive working capital of EUR200 million, so it's logical that payments for batteries are impacting this quarter's cash flow. Q: How do you see the price development for merchant energy in Chile, given your high contract rate? A: Merchant prices have improved compared to last year due to reduced curtailment. We are hybridizing projects to avoid cannibalization. As more batteries are introduced, we expect the price curve to flatten, moving cheap solar energy to night peak prices, which should increase solar prices and have a deflation effect at night. Q: Can you disclose the CapEx per megawatt for the deal with BYD, or do we need to wait for the Capital Markets Day? Also, what was the output in Q1 from Gran Teno and Tamango? A: We will provide CapEx guidance at the Capital Markets Day. The trend is positive, moving downwards, which is good for competitiveness in Europe. For production, Q1 output was 140 gigawatt hours, a significant increase from last year's 12 gigawatt hours. Q: Can you provide some color on curtailments in Chile this year compared to last year? A: Curtailments are present where there is more solar penetration. Lower solar prices help us create a business model capturing growth and returns. The electricity market in Chile, with its 13 different markets, is more affected by curtailments, but it presents an opportunity for us. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
