Renewco/Atlantica in BESS JV
Renewco will develop up to 16 projects until ready-to-build status and Atlantica will arrange financing, contracting and management of the BESS portfolio. Paris-based Finergreen has been financial adviser to Renewco on the structuring of their joint venture.
The 2.2GW pipeline is still subject to securing grid connection but Renewco is confident in the Spanish market as "the government recently hinted that BESS projects would have a fast track or special grid connection route due to the urgent need for building BESS capacity in the country", the developer said in a statement. Atlantica manages 682MW operational solar assets in Spain and is active in 12 countries across the Americas and Europe with 2.2GW aggregate operational renewable capacity.
