Verbund, Capital Energy team up for Spanish hydro projects
- Verbund AG and Capital Energy join forces to develop pumped-storage hydroelectric projects in Spain, boosting renewable energy goals and enhancing energy storage capacity.
Austrian power producer Verbund AG has partnered with Spanish renewables developer Capital Energy to develop pumped-storage hydroelectric projects in Spain. The joint venture, Verbund Green Power Iberia, will focus on two projects with a combined capacity of around 830 MW, owned by Capital Energy. Verbund will provide technical support during development and lead construction and operation.
Verbund, which already operates over 130 hydroelectric plants, including seven pumped-storage facilities, will bring its expertise to the partnership. This agreement follows Verbund's acquisition of a majority stake in a 171-MW wind and solar portfolio from Capital Energy in 2022, further solidifying the relationship between the two companies. The projects aim to contribute to Spain's renewable energy goals and increase energy storage capacity in the country.
What expertise does Verbund bring to pumped-storage hydroelectric projects in Spain?
- Extensive experience in operating over 130 hydroelectric plants, including seven pumped-storage facilities
- Expertise in developing and managing complex pumped-storage hydroelectric projects
- Strong track record in renewable energy project development and operation
- Knowledge of regulatory and technical requirements for hydroelectric projects in Spain
- Ability to optimize energy storage and grid stability through innovative solutions
- Commitment to sustainability and contributing to Spain's renewable energy goals
