RenerCycle has closed its second round of capital increase in less than a year and has appointed Javier Villanueva as chief executive.
The latest capital increase will drive the company’s first investment in Navarra, in Spain, worth €6.5m where it will undertake activities associated with the dismantling of wind turbines, the repair and industrial refurbishment of turbine components for sale in the spare parts market, plus recycling of remaining materials from old wind turbines.
RenerCycle was set up in 2022 to develop business solutions in the field of the circular economy and is backed by Acciona Energy, RWE, Enhol Group and Enerfin (Elecnor Group), Nordex and Ingeteam, as well as the strategic investment partner EIT InnoEnergy and the service companies Tetrace, EO6 Engineering and Abintus Consulting & Innovation.
The company is based in Pamplona and last year presented its project to the president of Navarra, María Chivite, who described it as a strategic initiative for Navarra.
RenerCycle is already in talks with the Government of Navarra for the implementation of its logistics operations centre and recovery of materials in the central area of the region.
RenerCycle will boost its business activities nationally and internationally, promoting a new circular model of non-linear production and consumption, whereby the value of products, materials and resources is maintained in the economy for as long as possible, waste generation is minimised and waste that cannot be avoided is used to the greatest possible extent.
It is estimated that in 2030 there will be more than 50,000 wind turbines in Europe that will have reached or exceeded 20 years of useful life, with Spain and Germany being the markets that will have the most fleets.
The magnitude of this market is also transferred to blades, a component that from 2025 cannot be landfilled, so they must be recycled.
It is estimated that in 2030 more than 500,000 tons of wind blades will have reached the end of their useful life, of which 170,000 tons correspond to the Spanish market.