Applus+ leads the debate on the critical role of storage in the power system

Guillermo Arsuaga, Manager of Consultancy at Enertis Applus+, set the technical tone of the session by stating that storage will be essential to consolidate a power system aligned with supply security, decarbonization, economic efficiency and energy independence. Arsuaga notes that batteries not only allow for energy arbitrage but also provide strategic services such as frequency control, grid congestion relief, island operation and black start capabilities. 

The Applus+ expert argued that storage is no longer merely a backup system, but a critical infrastructure. He stressed that the market must evolve toward models that reflect this multifunctionality, and, although the capacity market proposal is positive, it requires regulatory and financial adjustments to make it truly operational. 

Grid congestion in southern Spain and the mismatch between generation and consumption are directly impacting solar plants. In this context, hybridization with batteries is emerging as the most immediate solution. Rita Cazón, Project Finance expert at Banco Sabadell, highlighted that banks are already analyzing specific structures to finance storage, but they require both regulatory and operational certainty. 

From an investment perspective, Chema Zabala, Managing Director at Alantra, explained that the storage market will unfold in two phases: an initial phase featuring high-return and low-leverage projects, followed by a more mature stage with tighter returns but greater bank financing. Zabala also advocated for treating storage as a dynamic asset that enables revenue stacking: a combination of income from arbitrage, grid services, private contracts and regulated mechanisms like the capacity market. 

Sergio Arbeláez, Managing Director of Matrix Renewables for Europe and Latin America, highlighted the international experience of Spanish developers, shaped in markets such as the UK, California (United States) and Australia. Arbeláez stated that there is no turning back for storage. He also pointed out that while Spain enters the storage space with strong technical and financial capabilities, barriers such as dispatch priority, hybridization permits and access and connection processes adapted to real battery operation still need to be addressed. 

The roundtable concluded with strong consensus: the success of energy storage will depend on the system’s ability to combine solid revenue mechanisms, a clear regulatory framework and tailored financing structures. At Applus+, we are ready to support our clients in this paradigm shift with technical solutions and regulatory expertise.