German company Aquila Capital inks deal with Spain’s Gransolar, invests in Australian batteries

Demand for battery energy storage could reach 38 GWh by 2030 to support a grid with declining coal-fired generation capacity, BloombergNEF says.Australia’s growing storage sector has attracted investment from a range of players, including major utilities such as AGL Energy and EnergyAustralia, grid companies such as TransGrid, infrastructure investors and specialist storage developers.Madrid-based Gransolar has been planning a major expansion in grid-scale storage in eastern Australia, with Australian managing director Carlos Lopez saying in February that the company had more than 400 MW of storage projects under development, supported by its private equity backer Trilantic Europe.The company’s specialised energy storage company, E22, will further develop the South Australian portfolio it sold to Aquila on behalf of the German company.“In the clean energy mix, battery storage…

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