The Austrian power company Verbund has signed a strategic alliance with Capital Energy to evaluate the possible construction of two pumped-storage hydropower plants in Spain with a combined capacity of about 830 MW. Under the terms of the agreement, Capital Energy will lead the promotion of these plants within the joint venture, while Verbund will be responsible for leading the construction and operation of the plants, as well as providing the necessary technical support during the development phase.
Previously, in 2022, the two energy signed a sale and purchase agreement for five wind and solar projects, with a combined capacity of 171 MW, located in three autonomous communities: Andalusia, Asturias and Extremadura. Capital Energy, a Spanish company, controls around 25 GW of renewables capacity in Spain and Portugal, while Verbund, an Austrian firm, operates more than 130 hydro power plants (seven being pumped-storage) with an installed capacity of 8.4 GW.
Spain had a pumped-storage hydropower capacity of 3.3 GW at end-2022.
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