Finance 2 storage projects at the heart of Spain's energy transition.
The EnerStorage España project, developed by the Energreen group, aims to finance the development of two stand-alone BESS electricity storage projects in Spain.
This installation contributes to the energy transition by facilitating the integration of renewable energy and strengthening the stability of the electricity grid.
The Energreen group is seeking to raise an initial tranche of €1,500,000. The funds raised will be used to cover the development costs of both projects up to the ready-to-build (RTB) stage.
The offer
A straight bond issuance to cover development costs for two standalone battery storage projects in Spain
Funding offer
The project aims to raise €1,500,000 to finance the development costs of two standalone BESS projects (Battery Energy Storage Systems) in Spain. These projects are currently in the development phase, and are scheduled to reach “ready to build” (RTB) status in the first quarter of 2027. The financing will take the form of non-convertible bonds, with an annual interest rate of 9.5% and a maturity of 24 months.
The funds raised will be exclusively used to cover the development costs of the two energy storage projects.
Investment structure
The investment is structured around the bond issuance by Energreen Power S.L. responsible for the projects in Spain. The bond issuance is governed under Spanish law.
The financing will be repaid through several options:
- Revenue from the sale of the assets to a major industry player. Energreen is currently in discussions with a leading company.
- Capital injection from Energreen or other investors.
Project guarantees
The guarantees associated with this financing include:
- Pledge of all shares of the issuing company.
- Full early repayment clause if one of the two projects is sold.
- Creation of a biannual monitoring committee to follow up on project development and ensure progress.
- Cross-default clause with other bond issuances by the sponsor, to protect against default-related risks.
Specifications
Investment phases
- Investment open to everyone
End of project financing
Resources
Simulator
Investment simulation
EnerStorage España - Obligation 9.5%/year over 3 years
Simulation - Rate : 9.5% / year on 3 ans
Initial investment:
€1,000
Repayments and interest:
€1,285
In 6 transfers
| Date | Interest* | Capital | Amount |
| 06/01/2026 | €47.5 | €0 | €47.5 |
| 06/07/2026 | €47.5 | €0 | €47.5 |
| 06/01/2027 | €47.5 | €0 | €47.5 |
| 06/07/2027 | €47.5 | €0 | €47.5 |
| 06/01/2028 | €47.5 | €0 | €47.5 |
| 06/07/2028 | €47.5 | €1,000 | €1,047.5 |
| Total | €285 | €1,000 | €1,285 |
*Gross interest before tax, including all fees (view taxation) The result presented is not a forecast of the future performance of your investments. It is only intended to illustrate the mechanics of your investment over the investment period. The evolution of the value of your investment may vary from what is shown, either increasing or decreasing. | |||
The project
Project overview
| Projects | Navegantes 32 | Navegantes 49 |
|---|---|---|
| Capacity | 65 MW | 25 MW + 25 kW of PV |
| Technology | BESS (Stand-Alone) | BESS (Stand-Alone) + hybrid |
| Output | 3h – 195 MWh | 3h – 75 MWh |
| Status | Application for Administrative Authorisation: Approved (Q1 2024) | Application for Administrative Authorisation: Approved (Q2 2024) |
| Estimated RtB | Q1 2027 | Q1 2027 |
Both projects have obtained grid connection approval. Land is secured for one site, and the second is in the final stage of acquisition (signature expected in June).
Market context
Spain is emerging as a European leader in renewable energy, with an ambitious goal: to reach 74% green electricity in its energy mix by 2030.
This development relies primarily on solar and wind energy, whose rapid growth increases challenges related to production intermittency. In this context, battery storage systems play a key role: they help smooth production, stabilize the grid, and optimize energy use.
The National Integrated Energy and Climate Plan (PNIEC) foresees 42 GW of storage capacity by 2030, with a significant share dedicated to large-scale daily storage. Supported by an evolving regulatory framework — including the introduction of a capacity market — the storage sector, particularly batteries, is becoming a cornerstone of Spain’s energy transition.
Project owners
Energreen
Fundada en 2011 en Suiza, Energreen es una desarrolladora internacional de energías renovables, activa en más de 10 países en 3 continentes. Con más de 13 años de experiencia, el grupo desarrolla proyectos fotovoltaicos, eólicos y de almacenamiento (BESS), con más de 6 GWp en cartera. En España, colabora especialmente con Arena Power para acelerar la transición energética mediante alianzas locales sólidas y una reconocida experiencia.
Creada en 2011 en Suiza, Energreen SA fue originalmente un proveedor de servicios para la industria solar. El grupo colaboró especialmente con Talesun Group, un fabricante líder de paneles solares, en numerosos proyectos en el sur de Europa, el Reino Unido, Turquía, Argentina y México.
A partir de 2019, Energreen amplió su actividad convirtiéndose en inversor en el desarrollo de proyectos greenfield fotovoltaicos, primero en España e Italia, y luego en otros mercados clave, en colaboración con desarrolladores locales. Hoy, el grupo se especializa en el desarrollo de proyectos solares, eólicos y de sistemas de almacenamiento (BESS), hasta la fase lista para construir (RTB – Ready to Build).
Gracias a su equipo internacional con experiencia y a sus sólidas alianzas locales, Energreen es capaz de anticiparse a las tendencias del mercado y adaptar sus proyectos a las exigencias de los compradores finales. En España, Energreen lleva varios años trabajando con el desarrollador Arena Power a través de un contrato de servicios de desarrollo, consolidando así su presencia en un mercado estratégico.
Con más de 13 años de experiencia, 6 GWp de capacidad en desarrollo, 540 MWp de proyectos ya construidos, y presencia en más de 10 países en 3 continentes, Energreen se consolida como un actor clave en la transición energética a nivel internacional.
Our analysis
Risk overview
Construction risks
Risk that the connection to the distribution or transmission network has not been completed or is not approved by the relevant authority before the planned date of commercial operation.
Mitigation methods
The Energreen teams have strong expertise and significant experience in developing renewable energy projects in Spain. The project portfolio presented is at an intermediate stage of development, although grid connection agreements have already been secured for each of them. In this case, Energreen has a development agreement with Arena Power for these two projects.
Country risk
Risk of policy change
Mitigation methods
Spain is a politically stable country. However, the main challenge remains climate risk, which the country is working to mitigate through adapted infrastructure and strengthened environmental regulations in response to natural disasters.
Development risk
Risk relating to authorizations issued to the company and land, and third-party appeals against authorizations issued.
Mitigation methods
Los equipos de Energreen cuentan con un saber hacer y una experiencia sólidos en el desarrollo de proyectos de energías renovables en España. La cartera de proyectos presentada se encuentra en una fase intermedia de desarrollo, a pesar de haber obtenido acuerdos de conexión para cada uno de ellos. En este caso, Energreen tiene un contrato de desarrollo con Arena Power para estos dos proyectos.
Refinancing risk
Credit risk related to the company's ability to refinance and meet its debt obligations.
Mitigation methods
Voici à nouveau la traduction en anglais, conforme et fluide : --- The Energreen teams have substantial know-how and experience in developing renewable energy projects in Spain. The project portfolio presented is at a mid-stage of development, although grid connection agreements have already been secured for each of them. In this case, Energreen has a development contract with Arena Power for these two projects.
Regulatory risks
Risk of changes in regulations applicable to the sector, involving reductions in subsidies or new taxes with a significant impact on project revenues.
Mitigation methods
The developer continuously monitors regulatory changes through legal advisors specialized in the energy sector. In addition, the financial models of the projects include sensitivity analyses to assess the impact of potential regulatory changes.
Risk of natural disaster
Risk of extreme weather conditions that could impact the profitability of the parks or even destroy them (storms, fires).
Mitigation methods
Voici la traduction en anglais : --- Spain is a politically stable country. However, the main challenge remains climate risk, which the country seeks to mitigate through adapted infrastructure and strengthened environmental regulations to address natural disasters.
Investing in this participatory financing project involves risks, including the risk of total or partial loss of the capital invested. Your investment is not covered by the deposit guarantee schemes established in accordance with directive 2014/49/EU of the European Parliament and of the Council. Your investment is also not covered by the investor compensation schemes established in accordance with Directive 97/9/EC of the European Parliament and of the Council. Return on investment is not guaranteed. This is not a savings product, and we recommend that you not to invest more than 10% of your net assets in participatory finance projects. You may not be able to sell the investment instruments when you wish. If you are able to sell them, however, you may incur losses.
