Ontier has advised Return Energy on its acquisition from Aquila Clean Energy of an 80 MW / 318 MWh ready-to-build portfolio of battery energy storage system (BESS) projects located in Catalonia and Asturias. The deal represents Spain’s first transaction involving a utility-scale BESS portfolio.
The projects, strategically located in two key regions of the national electricity system, are intended to enhance grid stability and facilitate greater integration of renewable energy amid the accelerating energy transition.
With a total capacity of 318 MWh, the portfolio will enable the provision of essential balancing and back-up services to the electricity system, while improving the management of intermittency from renewable sources such as solar and wind. In doing so, it supports decarbonisation objectives at both national and European level.
Steve Sceery, Head of Return in Spain, said the transaction marks a further milestone in the company’s strategy to position itself as a key player in Spain’s flexible storage market. The acquisition puts Return on track to reach 800 MWh of independently owned and operated BESS assets in Spain by the end of 2027.
With this transaction, Ontier strengthens its position in Spain in M&A as well as in regulatory and financial advisory work, supported by specialist expertise in BESS technology.
Legal advisers
Return Energy
- In-house: Steve Sceery, Head of Return Spain Borja Linares Puentes, General Counsel Bosco Pérez-Pla de Alvear, Business Development Director Juan Pedro González Alamillo, Development Director
- Ontier: Partners Pablo Enrile and Israel Gómez-Caro. Head of Regulatory Silvia San Felipe. Senior Associate Paula Rubio. Associates Pedro de Ussia and Adrián García Pacios.
Financial adviser to Aquila Clean Energy
- JLL: Head of Energy & Infrastructure Advisory Tom Garcia. Legal Adviser Javier Santos.
