Aurora’s Chronos launches in Iberia amid rising demand for energy storage

The rapid increase of renewable generation in the Iberian market has led to booming interest in storage. In Spain, renewable generation is expected to represent over 80% of the generation mix by 2030. In Portugal, that number is expected to reach 90%. This has led to a booming demand for storage technologies able to shift generation from periods of excess supply to periods when renewable generation is unable to meet demand. In the context of a battery market expected to reach around 6 GW by 2030, Aurora Energy Research has launched Chronos to enable the simple, accurate evaluation of revenue streams for storage.

Underscoring Aurora Energy Research’s commitment to delivering innovative solutions in the pursuit of a sustainable energy future, Chronos Iberia aims to revolutionise energy storage solutions across the region, with further plans for growth into Australia and the US.

“As a trailblazer in battery analysis in Iberia since 2021, Aurora has been instrumental in guiding early investment decisions for battery projects that are now under construction or in advanced stages of development,”

Ana Isabel Barillas, Managing Director, Iberia & LATAM, Aurora Energy Research, said.

“Our comprehensive analysis and cutting-edge software are backed by a team of dedicated market experts, ensuring the highest level of support, accuracy, and reliability. This Iberia-specific expertise is enhanced by our extensive experience in leading battery markets globally, including Great Britain, Australia, and the US.”

Chronos Iberia is aimed at investors, developers, and utilities, offering advanced insights essential for crafting efficient energy storage strategies. It enables users to conduct multiple valuations efficiently, saving valuable time and resources. The results generated are deployable in due diligence, transactions, and debt financing.

The software’s features allow not only for the inclusion of the configuration (standalone or in co-location with RES) and specific technical parameters of each project, but also for the evaluation of different commercial strategies, helping inform investment and debt decisions in a comprehensive and robust manner. In M&A, Chronos is used to support competitive bids, helping to refine investment strategies by identifying key value drivers and enabling the evaluation of specific opportunities quickly and automatically, minimizing calculation errors.

Barillas continued:

“Chronos Iberia exemplifies our commitment to innovation.  Leveraging bankable market curves that have been used in hundreds of transactions worldwide, our software’s robust analytical capabilities, supported by Aurora’s global expertise in battery analysis and financing, make it an indispensable tool for navigating the complexities of the energy storage market.