Three standalone battery energy storage system (BESS) projects developed by Return Energy in Bizkaia, Spain, have reached financial close with a combined investment of €50 million.
The projects, located in Güeñes, Barakaldo and Lezama, total 55 MW of power and 220 MWh of storage capacity, making them the largest standalone BESS portfolio in Spain to have reached financial close to date, according to DNV.
DNV acted as technical adviser during the technical due diligence process for financing. Its independent assessment covered project design, technology selection, contracts and key technical risks, as well as measures to mitigate those risks.
The three systems will operate independently, without directly associated renewable generation, and are intended to provide flexibility to the electricity system. Together, they will offer 220 MWh of storage capacity and 55 MW of power.
The portfolio forms part of Return Energy’s storage project pipeline in the Basque Country, which exceeds 1,400 MWh of capacity and 352.6 MW of power.
From pv magazine España
The post Spain’s largest standalone BESS portfolio reaches financial close appeared first on Energy Storage.
