Spanish BESS projects reach financial close with 220 MWh
Three standalone battery energy storage system (BESS) projects developed by Return Energy in Spain’s Basque Country have reached financial close, backed by a €50 million investment. Located in Güeñes, Barakaldo and Lezama, the projects have a combined power capacity of 55 MW and energy storage capacity of 220 MWh.
According to technical adviser DNV, the portfolio is the largest standalone battery storage portfolio in Spain to have reached financial close to date.
DNV acted as technical adviser during the technical due diligence process for the financing. Its independent assessment covered project design, technology selection, contracts and key technical risks, as well as proposed mitigation measures.
The three batteries will operate independently, without directly associated renewable generation, and provide flexibility to the electricity system. Together, they will be able to store up to 220 MWh and discharge at a combined power output of 55 MW.
The projects form part of Return Energy’s wider battery storage pipeline in the Basque Country, which exceeds 1,400 MWh of energy capacity and 352.6 MW of power capacity.
From pv magazine España
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