E22 gives an important boost to its growth strategy in Australia. As part of Gransolar Group, the company has closed sale of 440 MWh of storage facilities (220 MW of capacity) in development projects in Australia to the investment and asset development company Aquila Capital. This transaction is part of E22’s ambitious strategy to close the year with the development of a total of 2 GWh (1 GW) in a high-priority market where energy storage is expected to develop spectacularly in the short term.
The agreement reached with Aquila Capital includes the selling of three lithium-ion stand-alone Battery Energy Storage Systems (BESS) projects under development in South Australia, which E22 will deliver in a ‘ready-to build’ phase.
E22 has focused on Australia as a strategic market with enormous scope for developing a business model such as the sale of projects under development, with the aim of replicating it in other key countries, including the United States and the United Kingdom.
As the urgency to undertake a change in the energy model towards sustainability and energy self-sufficiency spreads around the world, storage is becoming imperative to maximize the performance of renewable energies and plays an important role as a regulator of the electricity grid.
Francisco García García, Head of International Business Development at Gransolar, values this agreement in a positive way. “This is an important alliance with a strong partnership, that will contribute to boost the Battery Energy Storage Systems to the vanguard in the market. E22 as part of our global development strategy, with Australia, UK and USA as leading markets, will accompany our clients as a reliable partner”, explains.
Jaime Vega, managing director of E22, highlights the importance of storage in changing the energy model. “There is no doubt that this is a pivotal moment for energy storage business expectations and for E22’s growth. We have the skills to adapt quickly to the specificities of each market and we can identify the most valuable partners to make our projects a reality”, states.