Bernstein ups Grenergy to 'outperform' on new strategic plan

Grenergy Renovables SA

02/07/2025 12:24

** Bernstein upgrades Grenergy GREG.MC to "outperform" from "market perform" on the back of the Spanish renewable energy company's new strategic plan for 2025-2027

** "We now forecast higher capacity (2GW more of PV solar by 2027 and close to 10GWh more storage capacity), a higher project IRR and entry into new markets (Europe)," the brokerage says

** It also notes Grenergy's ability to be a first mover in some markets in hybridizing solar assets with long-duration batteries and deploying stand-alone batteries under tolling agreements

** It underlines that crystallizing value through asset rotation is a key to the company, with Grenergy pointing to asset rotation of 1.6GW of solar assets and 5.0GWh BESS capacity by 2027

** Out of 12 analysts that cover Grenergy, ten rate it "strong buy" or "buy" and ​two "hold" - LSEG data

 (Reporting by Tiago Brandao)

 ((Tiago.Brandao@thomsonreuters.com;))