The companies Benbros Energy and Return recently entered into a joint venture agreement with the aim developing storage projects in Spain for more than 500 MW. The first step is 10 projects that will generate 210 MW.
Return, the leading European investor in the development of renewable energy has announced a strategic agreement with Benbros Energy, a leading company in the renewable energy and sustainability sector, to develop energy storage projects on Spanish territory. This alliance represents one of the most important energy storage agreements in our country to date.
More energy storage for the country
The joint venture aims to develop more than 500 MW stand-alone storage projects. It currently has a portfolio of 210 MW of access and connection permits spread over 10 projects throughout Spain, with a significant degree of progress in their processing, with the start of construction of the first of them foreseen in 2025.
“The agreement with Benbros Energy represents an important step for our strategy growth in the Spanish energy storage marketsays Steve Sceery, partner at Return. “This partnership combines our experience in Northern Europe, where we have 70 MW of storage in operation as of 2021 and more than 16 GW in various development phases, with Benbros’ solid presence and execution capacity in the Spanish market, allowing us to allows us to accelerate the development of clean and resilient energy solutions in Spain.”
Francisco Ruiz, Managing Director of Benbros Energy, added: “This alliance represents a relevant milestone in the development of energy storage in Spain. Return’s extensive knowledge of international markets, together with our solid experience in the development of greenfield projects, will enable us to do this accelerate the implementation of groundbreaking “stand-alone” storage projects in our country, which will contribute to decarbonization and the resilience of the energy system.”
This agreement, which was formalized in August 2024, strengthens Return’s expansion in Spain – where it is already active with the companies in which it invests, Ekhi and CargaTuCoche, and strengthens the platform of storage projects it is developing in several countries in Europe. consolidate its position as a leader in the energy transition.
Return currently has three storage projects in operation and is completing the development of the largest storage project in the Netherlands, with a capacity of 364 MW, to further achieve its goal of reaching several GW of capacity. installed solar energy and storage across the entire European continent.
In turn, Benbros Energy positions itself with this alliance as an important player in the energy transition in Spain strengthens its technological diversification strategyentering into alliances with leading market leaders, as it already did with Renewable Power Capital (CPP Investments).
Benbros thus consolidates its presence in important sectors such as photovoltaic solar energy, battery storage, green hydrogenor sustainable data centers, but also in innovative industrial projects, such as the synthetic diamond factory in Extremadura in collaboration with Diamond Foundry.
He energy storage is an important and essential stepin the development of renewable energy sources and in the necessary decarbonisation process that the EU and all Member States are pursuing.