【SMM Analysis】BYD and Grenergy Expand Cooperation, Increasing Energy Storage Capacity of Chile's Oasis de Atacama Project to 3GWh.

Grenergy and BYD have expanded their supply agreement in Chile to support the world's largest BESS project, Oasis de Atacama. The agreement now encompasses the third phase of the project, with a total capacity reaching 3 GWh, which is also BYD's largest contract to date. Collaboratively, BYD will provide Grenergy with its MC Cube model energy storage systems, which are scheduled to arrive at the facility in Q2 2025 and commence operations in the same year. The contract includes 537 containers, equivalent to the energy storage capacity of over 9,000 electric buses and a driving range over 1.6 million kilometers.

Located in northern Chile, the Oasis de Atacama project is a large-scale solar and BESS developed by the Spanish energy company Grenergy. It boasts a 4.1 GWh storage capacity and approximately 1 GW of solar generation capacity, with the project's total investment estimated at $1.4 billion. The project is carried out in five phases, with the first phase expected to be operational by the end of 2024, and the remaining phases anticipated to be completed and in use by 2025. The project's first phase has completed the Factory Acceptance Test (FAT), a crucial step before battery shipment to ensure proper functionality.

BYD will provide the project's energy storage systems with its MC Cube models, which incorporate BYD's Blade Battery technology, known for its high safety, long life, and exceptional performance. As part of the cooperation, BYD will supply a total of 2,136 MC Cube energy storage system units, with a storage capacity comparable to over 9,000 electric buses and a driving range over 1.6 million kilometers. These BESS are expected to arrive at the facility in Q2 2025 and begin operations in the same year.

This partnership not only showcases BYD's leading position in global energy storage solutions but also reflects Grenergy's commitment to technological innovation and sustainable development. David Ruiz de Andrés, CEO of Grenergy, stated that the expansion of this strategic agreement with BYD is a key milestone in the company's expansion plans, propelling an unprecedented scale of energy storage projects. Guo Bin, General Manager of Overseas Sales for BYD Energy Storage, also expressed that collaborating with a global leader like Grenergy marks a new milestone in BYD Energy Storage's global business footprint across more than 70 countries and is a firm step towards achieving BYD's "Three Green Dreams" – creating a clean, sustainable world composed of electric vehicles, solar energy, and energy storage systems.