Battery storage firm Field has announced its expansion into Spain, spearheaded by general manager Toni Martinez, as it works to roll out hundreds of megawatts of storage in the country by 2030.
Founded in 2021, Field develops, builds and operates renewable energy infrastructure and following its launch in Italy last year, the business will now deploy battery storage in Spain.
With ambitious targets, Spain is rapidly deploying renewable energy to decarbonise its grid and expects to increase clean energy generation to 81% by 2030, said the developer.
Last year, Madrid’s draft National Energy and Climate Plan forecasted the deployment of 76GW of utility-scale solar capacity, 62GW of wind project, and 22GW of energy storage by the end of the decade.
However, as renewable power generation rises in Spain, electricity prices are increasingly falling to zero or negative values. 2024 alone has seen over 573 hours where electricity was traded at zero or negative values – with the month of April seeing the highest number of hours so far this year at 263 – according to Field’s analysis.
Excessive negative pricing increases uncertainty for investors and often requires bill payer-funded subsidies to offer top-up payments to generators when the price of electricity falls below a set threshold, added the company.
More battery storage capacity on the grid can reduce excessive negative pricing by storing or discharging cheaper, cleaner power when supplies are high or low, helping to narrow price fluctuations and offering more certainty to developers. Located in areas with a high concentration of demand and renewable energy supplies – leading causes of grid saturation – Field’s infrastructure will help national grid operator, Red Eléctrica, balance supply and demand, it said.
General managerToni Martinez was appointed in 2023 to oversee Field’s Spanish operations and establish a team from the newly launched Barcelona office. He was previously managing director at project developer GIA Power, and head of finance for Europe and Latin America at Trina Solar.
Field’s expansion into Spain comes as the business grows its operations, with over 4.5GWh of projects currently in advanced stages of development across Europe.
“We’re seeing an increase in renewable energy generation in Spain as we make significant strides to deliver our decarbonisation strategy,” said Martinez.
“However, the frequent occurrence of negative prices in the Spanish electricity market indicates an excess of renewable generation and underscores the need for storage to balance supply and demand, helping manage intermittency and ensure grid stability.
“I’m excited to bring my expertise to Field and to be part of a business that is passionate about achieving the energy transition – of which battery storage is a vital element.
“I look forward to growing the team here and developing, building and operating the infrastructure Spain needs to achieve net zero.”
Field chief executive Amit Gudka added: “Toni brings deep expertise to our operations in Spain, an important market as we expand across Europe and work to achieve a net zero future. Without battery storage, renewable energy cannot scale at the pace the world needs to decarbonise.
“With the right policy and regulation in place, our batteries will not only balance supply and demand across the grid but will even more to make use of the existing transmission infrastructure and renewable energy supplies we already have.”