Equitix announces the acquisition of Spanish hybrid renewable energy projects

Equitix today announces the majority acquisition of El Castillar Energy and Joluga Energy, two wind farms in Spain with a combined installed capacity of 87 MW which have under-development solar PV and battery storage hybridisation projects. Situated in Castilla-la-Mancha and Navarre, respectively, the assets represent the fifth and sixth projects purchased from Capital Energy by Equitix’s Spanish renewable energy hybridisation platform since June 2024.

El Castillar and Joluga are the first projects acquired from Capital Energy under a Framework Agreement signed this summer, which gives the platform exclusivity over a 1 GW pipeline of hybrid renewable energy projects including El Castillar, Joluga, Canales Sur, Terrer, and Desma.

This follows our announcement, on 31st July 2025, of Equitix’s 50/50 partnership with the New South Wales Treasury Corporation (TCorp) to grow its Spanish hybridisation platform. The current portfolio now comprises 330 megawatts (MW) of operational and under-construction assets, along with an additional 200 MW in development. Equitix and TCorp are targeting 1.4 gigawatts (GW) of generational capacity by 2030.

Achal Bhuwania, Equitix Chief Investment Officer, said:

“I’m delighted to see the hard work and dedication of our team come to fruition with the completion of the first two transactions under our strategic partnership with TCorp. This milestone highlights our commitment to investing in high-quality renewable energy assets and building enduring relationships with local partners such as Capital Energy alongside global stakeholders. It reflects our focus on delivering exceptional value for our investors while advancing our ambition to drive sustainable growth across Europe.”

Spain is pursuing an ambitious energy transition policy, aiming for 81% renewable power by 2030. Our hybridisation platform, combining wind, solar, and battery storage, will play a key role in this journey. Once fully developed, it will help boost Spain’s clean energy supply, support domestic and EU sustainability targets, and generate enough electricity to power almost 1 million Spanish homes.