Spain is an interesting case in terms of its past battery storage strategy. Although the country is a European leader in the development of renewable energy sources, particularly hydro and solar, it lacks a significant battery energy storage system (BESS) portfolio, unlike countries such as the UK, Italy and Germany. While these countries have already installed multiple gigawatts of battery storage capacity, Spain has less than 100 megawatts. The reasons for this are quite obvious. Spain has traditionally had a large installed capacity of hydro and thermal storage systems, which has led to a resilient power grid and a reduced need for alternatives.
Additionally, Spain lacks a clear regulatory framework for BESS, which deters potential developers and investors. Nevertheless, Spain should be seen as a core European market for BESS projects. This is primarily because the energy transition is moving forward rapidly, requiring new storage capacity to maintain grid stability. Furthermore, there is progress regarding the regulatory framework and development goals for battery storage in Spain. The latest EY Infrastructure Compass 2025 report makes this clear. Spain is ranked as the second-largest market for battery storage project development in the world. The country is developing around 16 GW of BESS projects by 2030, which corresponds to market size growth from 417 million USD in 2019 to 2.1 billion USD by 2029. To provide an overview of the sector and help its participants identify the most important battery storage developers, we have created a list of the world’s largest battery storage developers. Here, we present three major BESS developers from Spain as an excerpt from this list. Our renewables.digital research teams identified Grenergy Renovables, Iberdrola and Matrix Renewables as the largest Battery storage developers in Spain. When selecting developers, we considered their latest activities, their current development pipeline, their regional reach and their future strategic decisions.
1. Grenergy Renovables (Madrid)
Grenergy Renovables is a leader not only in the development of renewable energy in Spain, but also worldwide. The company has 13 local offices and operates in Europe, Latin America and the USA. The company’s technological focus is on solar and battery storage projects. Regarding its solar portfolio, Grenergy has projects at various stages of development, totalling around 12,500 MW, with over 1,500 MW in Spain. Grenergy is adding battery storage capacity to its solar portfolio, combining them strategically or developing stand-alone BESS projects. Their BESS platform totals over 72 GWh. In Spain alone, Grenergy has over 1.2 GW of BESS projects in the early stages of development. One of their largest Spanish projects is the development of the Escuderos project, which comprises 200 MW of solar capacity and 704 MWh of battery storage across two phases in Castilla-La Mancha. A 12-year PPA has been signed with Galp for this project. Grenergy plans to invest €3.5 billion (£3.1 billion) by 2027 to expand its battery storage and hybrid portfolio.
2. Iberdrola (Bilbao)
Since its establishment in 1992, Iberdrola has grown to become one of the world’s leading renewable energy developers. To date, the company has installed renewable energy capacity of over 56,600 MW. The company aims to increase this figure to 100,000 MW in the future. The company also considers energy storage projects to be a key lever for electrification, decarbonisation and the energy transition. For this reason, the company’s 2026 Strategic Plan includes €1.5 billion of investment in battery and hydro storage projects. The company aims to reach a cumulative installed storage capacity of over 120 GWh by 2030. Alongside major battery energy storage system (BESS) projects such as the UK’s largest wind energy battery at Whitelee, Iberdrola has several BESS projects in Spain, including energy storage systems in Extremadura.
3. Matrix Renewables (Madrid)
Matrix Renewables is another major Spanish player in the renewable energy sector. The Madrid-based company is backed by TPG Rise and has a core portfolio of renewable energy sites totalling 4 GW, as well as a project portfolio of 15.5 GW. Matrix Renewables is investing heavily in its battery storage portfolio. In the UK alone, the company has two ready-to-build BESS projects with a capacity of 500 MW (1,000 MW/h). Matrix Renewables also plans two 100 MW/400 MWh battery storage projects in northern Spain.
About the list of the largest Battery Storage Developers in the world
Columns included in the list of the biggest Battery Storage Developers in the world
- Company data (Company Name, Legal form, Country of origin)
- Contact details (Country, City, Address, Postcode, URL, E-Mail, Phone, Management)
- Area of activity (Onshore Wind, Offshore Wind, Solar, Hydro, Tidal, Hydrogen projects, Geothermal, Energy storage, Biomass)
- Special Focus (PPAs, Repowering)
- Further information (Regional Focus, Founding year, installed capacity in MW)
Covered regions
Our list includes wind energy investors from the following regions:
- Africa
- Asia
- Europe
- North America
- South America
- Oceania
Source: EY
Picture Source: Sungrow EMEA via Unsplash
