Equitix forms strategic partnership to deliver 1GW+ of Spanish hybridisation projects

Equitix and Capital Energy have solidified their strategic partnership with the acquisition of an additional 120 MW hybridisation project in Spain.

The total portfolio now consists of over 300 MW of hybridized renewable energy across four sites in Spain which will save over 140,000 tonnes of CO₂ emissions per year and supports the Spanish government in meeting its net zero goals for 2030. Following another successful completion, Equitix and Capital Energy will continue to leverage their strong partnership to deliver a further c. 1GW secured pipeline of hybridized renewable energy projects.

The most recent project contains two high-quality onshore wind farms, both located in Aragon, which are currently under construction with an installed capacity of 100MW, as well as 20 MW of early-stage solar PV hybridisation developments. Both sites also have the potential for future battery storage optimisation. The solar PV and battery storage assets will be built on the same site as the existing wind farms to maximise grid capacity usage and take advantage of the complimentary energy generation profiles of the different renewable energy sources (e.g. wind and solar PV).

The investment represents a second investment into Spanish hybridised renewable energy systems, and follows the previous announcement in June this year.

Hybridisation is when a site’s grid access usage is maximised by leveraging the complimentary energy production profiles of wind, solar, and battery storage to increase a project’s capacity factor and the reliability of energy supply, thereby maximising project returns. Hybrid renewable energy systems have other benefits including cost synergies and a streamlined permitting process, especially in Spain where there is a favourable regulatory regime.

Equitix CIO Achal Bhuwania said:

“I’m extremely pleased to be forming this strategic partnership with Capital Energy to deliver hybridised energy projects in Spain. This is further evidence of our commitment to building local partnerships and deepening long-term relationships alongside our overall commitment to investing in high-quality renewable energy assets in Europe.”

Equitix were advised by Ashurst (Legal services), DNV (technical), EY (Modelling, Financial and Tax) and Marsh (Insurance).