Grenergy secures €100 million senior loan from Banco Santander and Sumitomo Mitsui Banking Corporation for 618 MWh stand‑alone BESS in Oviedo, Spain

Type: Financing · Technology: Storage · Country: Spain · Capacity: 618 MWh · Value: ZAR 100M · Announced: 2026-07-22

Grenergy closed a senior non‑recourse loan of €100 million with Banco Santander and Sumitomo Mitsui Banking Corporation for its Oviedo BESS project. The stand‑alone storage facility will deliver 618 MWh of capacity and is being built on an industrial site adjacent to the La Estrecha substation in La Corredoria, Oviedo, Spain. Construction has begun and the plant is slated to start operating in the first half of 2027. The financing marks the first senior loan of its kind for an independent BESS in Spain and supports Greenbox’s European storage platform, which targets around 30 GWh across six markets. No advisors are disclosed, and the loan will be used to fund the development and commissioning of the storage asset.

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