Alpiq acquires Navaleo pumped hydro storage project from Erbienergía

Alpiq's acquisition of the 535 MW Navaleo pumped hydro storage project from Erbienergía in Spain represents a significant move for the Swiss energy company to expand its renewable energy portfolio and storage capabilities within Europe. The deal structure, with Erbienergía retaining a stake and continuing to support development, suggests a collaborative approach leveraging Erbienergía's local expertise and Alpiq's financial strength and operational experience. This acquisition aligns with Alpiq's strategy to offer comprehensive energy services, including energy generation and storage, across the continent. The Navaleo project, once operational, will contribute substantially to Spain's energy storage capacity and grid stability. The size of the project, at 535 MW, positions it as a notable player in the pumped hydro storage landscape. Alpiq's involvement, as a leading European electricity producer, lends credibility and expertise to the project's development. The acquisition underscores the growing importance of energy storage solutions in supporting the integration of intermittent renewable energy sources and ensuring a reliable energy supply.