Renewco Power has entered into a strategic agreement with Atlantica Sustainable Infrastructure (Atlantica) to jointly develop up to 2,200 MW of standalone battery energy storage systems (BESS) across Spain.
Under the terms of the agreement, Renewco will be responsible for advancing the projects to ready-to-build (RtB) status, while Atlantica will take on the construction and management of the battery portfolio once it reaches that stage.
The agreement comes after Renewco, which operates offices in Madrid and Sevilla, initiated a process last year to secure an investment partner for its greenfield portfolio of 16 BESS projects. These projects are designed to connect to select transmission substations throughout Spain, with connection awards dependent on the outcomes of grid capacity auctions organized by the Spanish government.
Renewco noted that the Spanish government has recently indicated that BESS projects may receive a fast-tracked or special grid connection route due to the growing need for energy storage capacity in the country. However, the 2.2 GW pipeline is still contingent on securing these grid connections.
Alp Karli, Chief Commercial Officer of Renewco, stated, “We are delighted to start this partnership with Atlantica, which we believe is set to have a positive impact on Spain's energy infrastructure. For our BESS development operations across Spain, we are looking forward to utilising our experience in the UK and other markets that are ahead of Spain in deploying BESS in its grid infrastructure to enable the renewables transition.
Pedro Perejon, Renewco's Country Manager for Spain, added, “Renewco and Atlantica have considerable synergies, and we are excited to be one of their deployment partners in BESS development and portfolio construction in Spain.”
