Sustainable investment experts Exus Management Partners (Exus) has been chosen to provide the complete end-to-end delivery of Portugal’s first third-party wind and solar hybrid project, based in the north of the country.
Courtesy of NREL.
The company will be leading on every phase of project development on behalf of the third-party investor, including the identification of the project’s location, permitting, plant design, EPC negotiation, construction management, commissioning, asset management and PPA contracting.
Power generation intermittency and the development of grid connection points are two of the biggest challenges facing the global renewables sector. By developing a solar PV project alongside an operational wind farm, hybrid projects can enable owners to take advantage of pre-existing infrastructure and more consistently generate power compared to standalone solar or wind projects.
An increasing number of European countries, including Spain and Portugal, have thrown their support behind hybrid solutions as they seek to add extra green capacity to their respective grids and improve reliability of production, with Exus an early adopter in the Portuguese market.
Exus’ data driven approach and technology-agnostic tools will provide the project’s owners with full oversight of the performance of both the solar and wind elements. As a result, they will be able to identify and mitigate issues before they occur, enhancing asset productivity, transparency in reporting and enabling Original Equipment Manufacturers to be held to account if components fail.
“Hybrid solar and wind projects represent a significant opportunity to optimise the grid” said Carlos Tello Garcia, Co-Founder and Chief Operating Officer at Exus. “We expect to see a boom in development across Europe once supporting regulations are put in place. This scheme represents the next step in Portuguese renewable energy development, and we are proud to be at the forefront of innovation in the sector. Technical excellence is paramount for managing renewable energy portfolios. End-to-end service solutions which can simplify the planning, construction and maintenance process for renewable energy owners, while optimising returns and maintaining the highest standards of on-site safety, are becoming increasingly crucial as the levelised cost of energy continues to fall for wind and solar.”
With no developers offering a comparable service package, Exus was chosen without a competitive bidding process. The hybrid plant is set to be fully operational by the end of 2023.