BW ESS has acquired a 126 MW portfolio of battery energy storage projects from Navacant in the Valencian Community, in a transaction advised by JLL.
The portfolio, known as the Sorolla Project, comprises two separate facilities of 99 MW and 27 MW, both with symmetrical grid access rights, and will have a combined storage capacity of up to 675 MWh. It is currently at an advanced stage of development, with plans to reach ‘ready to build’ status in 2027 and commence commercial operation a year later.
Navacant will continue to lead the remaining regulatory and development work through its partner CST Energy, while the acquisition will enable BW ESS to expand its Spanish platform through large-scale BESS (battery energy storage systems) assets.
The CEO of BW ESS, Isaac García Moreno, explained that the planned growth in Spain will combine the development of greenfield sites with the acquisition of advanced projects, for which the firm is seeking developers with knowledge of the local market and the capacity to deliver. In the case of Sorolla, he highlighted its scale and symmetrical connection rights as key factors.
The transaction comes at a time when energy storage is expanding in Spain, driven by the rise in renewable generation and the need to provide greater flexibility and stability to the electricity grid. This context is fuelling interest amongst international institutional investors in developing portfolios that have a solid technical foundation and guaranteed access to the grid.
JLL has advised Navacant through its Energy & Infrastructure Advisory team for Iberia, which forms part of the global Capital Markets division.
