Renewco launched a process last year to find an investment partner for its portfolio of 16 BESS projects, connecting to transmission substations across Spain, subject to forthcoming grid capacity auctions planned by the Spanish government, which recently hinted that BESS projects would be fast-tracked or given special grid connection routes, due to an urgent need to build BESS capacity.
Following on from this, the company will develop the projects to ready-to-build (RtB) status, with Atlantica then set to build and manage the portfolio. The 2.2 GW pipeline is still subject to securing grid connection.
Since launching in 2021, Renewco has built a team of over 50 renewables specialists, rapidly developing its 7 GW pipeline of solar, wind, BESS and green hydrogen projects across the UK, Spain, Italy and the US. It now has a considerable presence in Spain and a development pipeline of wind, solar, BESS and GH2 projects.
Atlantica has a team of 1,400 employees and is present in 12 countries mainly in North America, Europe and South America. It has 2.2 GW of aggregate renewable energy installed generation capacity in operation and has a strong presence in Spain with 682 MW of solar installed capacity. It expects to continue growing in the country and also has a pipeline of approximately 3.0 GW of renewable energy and 12.0 GWh of storage of which 93 percent are located in North America and Europe.
“We are delighted to start this partnership with Atlantica which we believe is set to have a positive impact on Spain's energy infrastructure” said Alp Karli, Renewco’s Chief Commercial Officer. “For our BESS development operations across Spain, we are looking forward to utilising our experience in the UK and other markets which are ahead of Spain in deploying BESS in its grid infrastructure to enable the renewables transition.”
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