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Unlocking opportunity: Analysing Spain’s battery storage landscape

Summary

Download the analysis report by LCP Delta and Santander on the investment opportunity in Battery Energy Storage Systems (BESS) in Spain.

LCP Delta and Santander have combined their expertise to analyse the opportunity for investment in battery energy storage systems (BESS) in Spain. With a high degree of solar generation in 2030, coupled with limited levels of interconnection, the Spanish market looks set to be a BESS hotbed once policy conditions adapt.

LCP Delta and Santander estimate that €4.8bn will need to be invested in BESS to meet the Spanish Government’s target of 22GW storage by 2030. Whilst some investment may be possible on increasing wholesale trading returns that could attract early movers, we expect a BESS rush once the Spanish Government opens up markets for ancillary services and implements a capacity market mechanism.

 

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