- Aquila Capital has made a deal to purchase from Spain’s Gransolar Group a 220 MW/440 MWh pipeline of BESS projects.
- The company also seeks to invest in solar and wind projects in Australia.
Aquila Capital, a German investment manager, has made a deal to purchase from Spain’s Gransolar Group a 220 MW/440 MWh pipeline of battery energy storage projects in Australia. The portfolio includes three projects at varying stages of development, stated Aquila on Monday.
The deal marks Aquila’s first investment in the Australian energy storage market. The company believes there are immense opportunities in the market.
“We are thrilled to close our first acquisition in Australia, a key market for us. Energy storage systems are crucial for system stability and efficiency and will be essential to realise the full potential of renewables in Australia. We look forward to growing our presence and investing long-term in decarbonising the country’s economy,” said Aquila Capital Asia Pacific’s chief executive Alexander Lenz.
Aside from energy storage, Aquila Capital also wants to invest in solar and wind projects in Australia. This is part of the company’s plan to expand its clean energy portfolio across Asia-Pacific.
The acquisition comes on the heels of a EUR-1-billion (USD 1.005bn) built-to-sell construction facility that the Hamburg-based investment manager secured last week to finance its 2.6-GW renewable energy pipeline in Spain and Portugal.
In a separate statement, E22, Gransolar’s energy storage subsidiary, said that Australia is a crucial market for the company and aims to develop 2 GWh by the end of the year.