Dutch investor Return, which specialises in accelerating companies that contribute to a more sustainable planet, has announced a partnership with Spanish company Benbros Energy, which was formalised last August. The aim of the joint venture will be to develop over 500 megawatts of energy storage projects in Spain.

The collaboration agreement is one of the most ambitious signed to date in Spain in relation to the development of energy storage projects. This type of facility is designed to equip sustainable energy projects with batteries to store electricity when there is a surplus and distribute it when there is demand.

First construction in 2025
The joint venture's portfolio already includes ten projects that are at an advanced stage of development and will have a storage capacity of 210 megawatts. They already have the permits for access and connection to the grid, and construction of the first of these projects is expected to start in 2025.

This is not Return's first transaction in Spain this year. The investor has already acquired Madrid-based Pausa, with a nationwide portfolio of energy storage development projects. Furthermore, the company also has operations in Spain in the field of large-scale grid-connected solar projects and solar industrial self-consumption through its subsidiary Ekhi.

Clean energy solutions
According to Steve Sceery, a partner at Return, the agreement “is an important step for our growth strategy in the Spanish energy storage market”, explaining that, “This collaboration combines our experience in Northern Europe, where we have had 70 megawatts of storage in operation since 2021 and over 16 gigawatts in various stages of development, with Benbros' strong presence and execution capacity in the Spanish market, which will enable us to accelerate the implementation of clean and technologically sound energy solutions in Spain”.

Managing Director of Benbros Energy, Francisco Ruiz, considers the partnership to be “an important milestone in the development of energy storage in Spain”. He added that the company's extensive knowledge of international markets, “together with our solid experience in developing greenfield projects, will allow us to implement innovative autonomous storage projects in Spain more quickly, contributing to the decarbonisation and resilience of the energy system”.

^{Photo: Return}