Storage is no longer the side deal — it’s the main event.
A quiet weekend on Iberian and Gulf deal wires, so today we follow where flexibility capital actually moved — and it moved at scale.
What we’re tracking today:
Saudi Arabia’s SPPC named EDF, TotalEnergies, ACWA Power, Tesla, Gotion and Envision among qualified bidders for its second build-own-operate BESS tender — 3 GW / 12 GWh across six projects. Gulf storage procurement is now running at a scale Europe should study.
In the UK, ContourGlobal acquired a 2 GWh Scottish BESS while Zenobē and Revera took FID on two more — 3.6 GWh committed in a single week. Operating storage portfolios are consolidating fast, and buyers are paying up for ready-to-build.
Brussels signed a first-of-its-kind tripartite pact in late June: 22 member states pledging 30–35 GW of new storage by 2028, with EIB backing — a demand signal that reprices BESS pipelines across the EU, Iberia included.
From Riyadh’s tenders to Brussels’ pledges, flexibility is where the capital stack is forming. At Persimmon Investments, that’s the map we invest against.