The projects, located in Güeñes, Barakaldo and Lezama, will provide a combined power capacity of 55 MW and storage capacity of 220 MWh. The portfolio is, to date, the largest standalone battery storage portfolio in Spain to reach financial close.
As technical advisor, DNV provided an independent assessment of the project design, technology selection, contracts and key technical risks, together with recommendations to mitigate those risks and support the financing process.
Spain’s electricity system is expected to require substantial growth in energy storage capacity as the share of variable renewable generation increases. Battery energy storage systems can help balance differences between electricity production and demand, support grid stability and provide additional flexibility to the power system. The projects form part of Return Energy’s wider pipeline in the Basque Country, which exceeds 1,400 MWh of energy storage capacity and 352.6 MW of power capacity.
“Energy storage is becoming an increasingly important part of Spain’s power system as renewable generation grows” said Brice Le Gallo, Brice Le Gallo, Vice-president and regional director for Southern Europe, MEA & LATAM, Energy Systems at DNV. “DNV’s Energy Transition Outlook for Spain shows that a more electrified, renewables-based energy system will require substantially more storage to provide flexibility and support grid stability. Projects reaching financial close are an important part of moving energy storage development from planning into deployment. Our role is to provide an independent view of the technology, design and technical risks so that the parties involved can make investment decisions with greater confidence.”
Spain’s National Energy and Climate Plan foresees a substantial expansion of storage capacity by 2030: 22.5 GW, including 12.5 related to BESS. With deployment still at an early stage, projects now reaching financing and construction will help determine how quickly storage can scale alongside renewable generation.
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