Renewables developer RES Group has finalised an “asset management mandate” with UK-headquartered independent power producer (IPP) Nala Renewables to provide asset management services at a 217MW portfolio of solar PV and battery energy storage system (BESS) assets across Europe.
The portfolio is currently in operation, and consists of assets split across Lithuania, Belgium and Greece. RES said that it would provide “asset management” services to the portfolio, to maximise its “long-term value”.
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While the company did not provide further details on this arrangement, the deal follows the precedent set by a number of RES deals completed in previous years. In December 2024, the company took over the asset management of the storage component of a solar-plus-storage project in Bristol, having already been responsible for management of the solar portion of the project; and last year signed an asset management deal for the 500MW Coalburn BESS project in Scotland.
“We are pleased to partner with RES for the asset management of this portfolio,” said Remy Verot, interim CEO at Nala Renewables, following the announcement of the deal. “RES’ extensive operational expertise [makes] them a strong partner to help ensure the long-term performance and value of these assets.”
It is also notable that both of these projects, and the Nala Renewables portfolio, include battery storage elements. RES said that the latest deal demonstrates “the importance of integrated operational services” between renewable energy generation and BESS, and reflects assessments made earlier this year that the co-location of these assets is a vital part of the energy transition.
However, beyond Europe, the company has divested from its storage assets; last year, the RES Group sold a 270MWh BESS project in South Australia to Spanish utility Iberdrola.
Leaders in the European solar sector are turning their attention to this year’s SolarPlus Europe event, to be held in Italy on 15-16 April by PV Tech publisher Solar Media. Information about the event, including the full agenda and options to purchase tickets are available on the official website.
