Spain logged 397 hours of negative power prices in Q1 2026. Portugal logged 222. Both are records. More solar, more wind, and not enough places to put the surplus. That’s the honest read on the Iberian market right now, and it’s reshaping what a “good” renewables SPV looks like. We’re seeing it directly in the…
Europe just posted its biggest second-quarter solar output on record — 129 TWh, roughly 20% above any prior Q2 — and Iberia is feeling it first. Spain logged 596 hours of negative day-ahead prices in H1 2026, Portugal 462. Exchanges have already had to push the price floor down to -€600/MWh to keep the market…
Portugal is moving from single storage tenders to a full National Energy Storage Strategy — a public consultation opened this month alongside a fresh battery auction. For developers, that’s a signal worth reading carefully, not just a procurement headline. Every hybridization mandate changes the technical brief. Layout has to account for a shared grid connection…
A 1,000 MW interconnector between Portugal and Spain went live this month — quietly rewriting the calculus for hybrid projects across Iberia. Cross-border capacity used to be a constraint developers designed around. Now it’s a variable in the base case. We’re seeing the same shift on the ground: co-located storage retrofits on operating solar assets,…
Spain just reserved all newly available grid capacity at a key 400 kV node in Galicia — earmarked for a future competitive auction on renewables and storage. It’s a small, technical-sounding move. But it says a lot about where the market is heading: capacity is now scarce enough that grid operators are curating who gets…
South Africa just approved 890 MW of new solar PV under REIPPPP Bid Window 7.3 — another reminder that in this market, competitive process is what turns a greenfield pipeline into steel in the ground. We see the same dynamic every week on the M&A side of our business. A capacity-rich SPV rarely finds its…
Abu Dhabi just reached financial close on a single project pairing 5.2GW of solar with 19GWh of battery storage — one of the largest solar-plus-storage financings built to date. The signal for the rest of the industry: standalone solar generation is no longer the finished product, it’s the raw input. We’re seeing the same shift…
Spain’s renewables M&A market isn’t slowing down — it’s getting more disciplined. In the first week of July, a Spanish mini-hydro asset changed hands for €66 million. One line in the deal log, but it fits a pattern we’re seeing across every live process on our desk: portfolios keep trading, but the path to signature…
Portugal just told the market what firm capacity is worth. The government has reaffirmed plans for a dedicated auction of 750 MVA of battery storage capacity, built into a new capacity mechanism that will pay batteries, generation and demand-side flexibility for being available when the system needs them most. For developers, that changes the design…
Masdar closed $6.1bn in financing this week for the world’s first gigascale round-the-clock renewable plant: 5.2 GW of solar paired with 19 GWh of battery storage in Abu Dhabi. The financing is the headline. The more useful number, for anyone designing these systems, is the ratio behind it — just under four hours of storage…
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