Gransolar to “supercharge” Australian photo voltaic and battery plans with new investor

Spanish renewables outfit Gransolar says it has “supercharged” its photo voltaic, storage – and even inexperienced hydrogen – plans for the Australian market, after the corporate secured a serious funding from worldwide financier, Trilantic Europe.

Gransolar is a bunch of vertically built-in photo voltaic and storage corporations that has been lively in Australia since 2017, largely by way of its GRS photo voltaic engineering, procurement and building (EPC) enterprise, and extra lately by way of its E22 battery division.

In Australia, is has constructed greater than 1GW of PV and battery storage in Australia, together with the 200MW Blue Grass photo voltaic farm in Queensland, which is being developed by Spanish firm X-Elio and final month attracted the backing of the Clean Energy Finance Corporation.

When it comes to storage, Gransolar last year started rolling out 13 large-scale batteries throughout South Australia, Victoria and NSW with a collective capability of 300 megawatts and one to 2 hours of storage every.

The funding deal will see Trilantic take a 60% stake within the Gransolar Group, with Gransolar’s administration staff to proceed in its function, whereas the funds are used to “supercharge [its] development plans” in Australia, which it described as a key marketplace for the corporate.

“Australia continues to be one of many Gransolar Group’s most necessary markets and Trilantic will additional strengthen our place right here,” stated Carlos Lopez, the managing director of Gransolar Australia, in an announcement on Monday.

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“The funding demonstrates the arrogance skilled traders have in our enterprise, its potential and our means to ship photo voltaic and storage options for our purchasers.”

The renewables developer has forecast income development above 50% for this monetary yr, and expects to proceed on this trajectory pushed by its success in Australia.

“2022 is ready to be one other robust yr for Gransolar Group in Australia and our native workforce,” stated Lopez.

“We’re wanting ahead to asserting new photo voltaic and storage tasks within the coming months, and serving to the nation obtain its emissions reductions targets.”

Globally, Gransolar has accomplished greater than 100 photo voltaic farms in 17 international locations. In feedback on the corporate’s shift into large-scale battery storage, Lopez stated early final yr that it was a logical transfer for a photo voltaic firm.

“There may be not a lot distinction in growing a battery undertaking and a utility-scale photo voltaic farm,” he stated. “In fact it has its know-how challenges as a result of it’s a unique know-how. However that is a part of our core enterprise.”

Lopez additionally stated that Gransolar was investigating the potential to change into a inexperienced hydrogen producer, significantly in Australia.

“It’s nonetheless within the very early phases to be sincere with you,” he stated in February 2021. “We consider it’ll be extra mid to long-term, however we’re preparing.

“We don’t have any tasks but, nevertheless we’ve got been requested by builders in regards to the potentiality of hydrogen abroad and right here.”

Sophie VorrathSophie Vorrath


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