Power firm Engie has entered into a long-term flexibility purchase agreement with developer Ignis for 625MWh of BESS capacity in Spain.
The agreement covers several battery energy storage system (BESS) projects in Spain and gives Engie access to the assets’ flexibility over a 10-year period, while enabling Ignis to secure the revenues generated from the BESS in the electricity market.
We’ve asked Ignis to clarify the details of the deal, like the project’s ownership and what kind of commercial structure the offtake is (floor, toll, etc.).
Ignis will be responsible for operating the assets and optimising their participation in balancing services markets in Spain, and the projects will go into operation in 2028.
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