E22 has just made an important qualitative and quantitative leap in Australia. The signing of an agreement with Aquila Capital for the sale of an energy storage pipeline totaling 220 MW (440 MWh) in projects under development confirms Gransolar Group’s storage division as one of the key companies in a country that has been setting the pace of energy change for years. Francisco García García, Head of International Project Development at the group, explains the advantages of investing in projects in the development phase, what makes E22 a reliable partner in this type of operation, and how the company plans to consolidate its position in Australia and the United States and make the leap to Europe.
E22 is the service provider for the first tranche of projects included in the agreement that Grupo Gransolar has just closed with Aquila Capital. What are the keys to this agreement?
E22 has developed a portfolio of projects in Australia, of which Aquila Capital has acquired a part. Aquila’s confidence confirms Gransolar’s positioning in this emerging technology and puts us on the map as a first-rate technology partner. Our background and experience in the energy sector allows us to guarantee our clients the best possible return on their assets and to accompany them in a planned operation tailored to their objectives.
The purchase of storage projects under development is an increasingly widespread operation in the energy market. What are the advantages for an investor?
This type of investment in countries with a consolidated regulatory framework and market, such as Australia, is attractive due to the opportunities it offers in arbitrage and frequency regulation markets, among others, as well as the benefits it brings to the country’s electricity infrastructure.
Could you explain which factors can make this type of investment attractive?
The attractiveness lies in the right location of these generation assets, within a network that requires the services they provide in an increasingly intensive way, and all this combined with cutting-edge technology.
Which qualities make Gransolar the ideal partner for investors?
Gransolar has been involved in the renewables sector since 2005 with extensive expertise in photovoltaics, from project origination, PV Hardware’s manufacturing of solar trackers to the engineering tasks performed by ISE, including the incorporation of its storage division (E22), which started in 2014. Functioning as a vertical integration platform specialized in solar energy positions the group as a reliable partner. All this, added to a team of qualified professionals, a global vision of the sector and our experience, result in the fact of being able to offer the client a quality product, always seeking efficiency and optimization as if it were our own.
In this remarkable growth of renewables and energy storage, which possibilities does a market like Australia offer?
We have the advantage that Grupo Gransolar‘s position as a leader in renewables in this country has served as a strong catalyst to boost the group’s storage division (E22). We became aware years ago of the conditions that made Australia a preferential market, and this anticipation has paved the way for us to grow with the strength of all the companies in the group. We have a well-established position in Australia and the United States, and it is clear to us that we want to go further, consolidating our position in other countries in the short term.
How does E22 plan to meet its ambitious goal of developing 1 GW (2 GWh) in storage by 2022?
The structure of the group in the country, our experience, and our capabilities, allow us to continue the growth trend in a well-planned manner, always looking for projects with great potential, avoiding risks or uncertainties in everything we develop. We are convinced that this first agreement with Aquila Capital to consolidate part of the generation assets planned for this year (220 MW/440 MWh), will undoubtedly give us an important boost to continue working to achieve our goal. On this path, it is important to mention, among other things, our relentless effort to be at the forefront of recently incorporated technologies in the renewable energy park that are here to stay.