Spanish renewables developer Grenergy is looking to expand its presence in Europe in five new markets in the wake of the continent’s REPowerEU plan.
Among the countries the developer is targeting to expand is Germany, the leader in Europe in terms of renewable targets and the largest PV market in the continent.
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Other prospective countries Grenergy is aiming for in Europe include Austria, Hungary, Czech Republic and Romania.
The energy transition from the EU to accelerate its targets and presented in the REPowerEU earlier this month exceeded Grenergy’s expectations and is an “unprecedented opportunity” for the company, said David Ruiz de Andrés, CEO at Grenergy.
“Renewables and particularly PV and storage will be definitely booming all around the continent in the next decade.”
Ruiz de Andrés further said the continent would “show the way” for the developer’s international growth, with Grenergy experiencing faster growth in Europe than any other region.
The Spanish developer is currently in four European countries, with a pipeline of 2.2GW in Spain alone, and almost another 2GW between Italy, the UK and Poland, most of which is solar PV.
But it is Latin America that remains the company’s core market a generation pipeline of 5GW, mostly from solar PV, and 2.6GWh of battery storage, another market the company has increased its presence in.
Grenergy’s total pipeline of solar PV and wind projects reached 11.5GW, with 811MW of solar PV backlog projects of which more than 500MW are near the construction phase in Spain, as the company awaits receipt of construction permits.
Last month, Grenergy inaugurated a solar plant in Colombia were it is eyeing a pipeline of 1GW of solar PV in the South American country.