Storage is quietly becoming the deal of the week across Iberia and the UAE–Africa corridor.
A quieter 24 hours for brand-new headlines, but the underlying trend keeps compounding: capital is rotating from pure generation into storage and grid infrastructure — the assets that make renewables bankable at scale.
What we’re tracking today:
Portugal: Prosolia Energy added a 15 MW/60 MWh battery system to its 34.4 MWp solar plant, its first international solar-plus-storage hybrid. Hybridisation, not new generation alone, is where Iberian developers are putting capital.
Spain: Grenergy closed €100m in senior non-recourse financing for its 618 MWh stand-alone BESS project near Oviedo, the first financing of its kind in Spain, backed by Santander and SMBC. Stand-alone storage is now bankable on its own merits, not just as a PV add-on.
Egypt/UAE: An Egyptian-Emirati consortium is investing EGP 20bn (~$390m) in a new 500kV line linking Gulf of Suez wind and solar to the Hawamdiya substation. Grid capacity, not generation, is now the binding constraint — and the UAE–Africa corridor is funding the fix.
At Persimmon Investments, that’s the map we invest against.