Greenalia starts selling energy in the US from MISAE II Solar Project (430MW)

This week, Greenalia, through its US subsidiary Excel Advantage Services, LLC, has started exporting energy to the grid from the Misae II Solar Photovoltaic Project. In this way, the renewable’s group begins to sell energy and generate income in the United States.

This first phase involves the connection of 215MW, which will come into operation progressively in the coming weeks. The second phase will involve the entry into operation of another 215MW (up to a total of 430MW installed) and is expected to come into operation throughout the month of September.

The PV Misae II project has involved an investment of more than 500 million dollars, 4 PPAs have been signed for 70% of its production, and it is expected to generate annual revenues of approximately 60 million dollars with an EBITDA of more than 50 million dollars.

On the other hand, during the last few weeks, specific regulations have been approved in the United States and Spain that affect the sector and the projects that Greenalia has under development.

As far as the United States is concerned, the review of the tax bill promoted by the current US President, Donald Trump, maintains until 2030 the tax credits (known as Tax Equity) granted by the Inflation Reduction Act for projects that begin construction within 12 months of the approval of the regulation (which took effect on July 4, 2025). This approval is a strong boost for the fulfillment of Greenalia’s business plan, since the company has a pipeline of projects under construction and in an advanced stage of processing of approximately 2.5GW, divided into three technologies: Onshore Wind, Solar Photovoltaic and Storage.

In relation to Spain, on 24 June 2025, RDL 7/2025 was approved, enacting urgent measures for the reinforcement of the electricity system. This decree contains important measures for the development of renewable energy projects, among which the following stand out:

• Suspension of time accrual of the precautionary measures deadline term for all projects (including those that had already requested the six-month extension).
  This measure is especially important for the judicialized wind projects that Greenalia is developing in Galicia and that, despite the fact that some of the lawsuits filed have already been dismissed in the last instance -by the Supreme Court-, now they will also regain the time period that they were paralyzed (from the precautionary measure to its ruling) for their commissioning. This means, in some cases, up to 3 additional years of installation time.
• Exceptional extension of the 5th milestone: Possibility of choosing a semester again within 2 months (until 25/08/2025).
  This measure makes it possible to delay the entry into operation of projects that currently had a very tight planning, and also allows, thanks to the measures approved for storage -which will be discussed below-, to complete projects under development or construction with battery systems, thus increasing their profitability and contributing to the stabilization of the grid.

  Specifically, the measures approved to promote storage are the following:

• Hybridized generation facilities with storage that can consume energy from the grid are not considered consumers.
• The storage facilities are declared to be of public utility (modification of article 54.1 of Law 24/2013) as well as their evacuation infrastructures.
• Exemption from the environmental assessment when the storage facility is located within the polygonal area of the generation project that previously has a favorable EIS.

These measures will contribute to the development of battery storage technology, which will especially favor the business model hybridized with photovoltaic technology, thus allowing the production generated with solar energy to be distributed throughout day, and not only during the production period of this technology, thus increasing the price captured and providing better stability to the electricity system.

In this sense, Greenalia is already making progress in the process for the implementation of hybridized batteries with the photovoltaic projects that the company has under construction in the Guadame (Jaén) SET, which total 310MW. The implementation of these batteries will mean additional profitability for all the projects.