Repsol
Repsol is a global energy company operating in more than 20 countries and investing in both conventional and sustainable energy solutions. To further accelerate the integration of renewable energy, Repsol develops innovative projects focused on energy storage and grid flexibility. One of these projects is AGUAYO II, a large-scale energy storage project located in northern Spain.
AGUAYO II Project – Pumped Storage Hydropower Plant
As the generation of solar and wind energy continues to grow, so does the need for large-scale energy storage. Renewable energy is not always produced when demand is highest. To address this challenge, Repsol is developing the AGUAYO II project, an expansion of an existing pumped storage hydropower plant in the Spanish region of Cantabria.
The project involves the construction of an underground reversible pumped storage hydropower facility with a capacity of more than 1 GW. When surplus renewable energy is available, water is pumped to a higher reservoir. During periods of high electricity demand, the stored water is released to generate electricity. This technology enables renewable energy to be stored efficiently and deployed when it is needed most. Furthermore, AGUAYO II makes use of existing reservoirs, eliminating the need to expand water basins and thereby minimising environmental impact.
Successful collaboration with Hezelburcht
For the implementation of AGUAYO II, Repsol secured € 180 million in funding through the European Connecting Europe Facility (CEF) Energy programme. This represented the largest individual grant awarded under the respective CEF Energy call. The project was selected due to its significant contribution to European energy security, grid stability and the further integration of renewable energy across Europe.
Hezelburcht supported Repsol throughout the entire application process. Our specialists helped translate the project’s technical and societal impact into a compelling European business case, with a strong focus on its contribution to European energy objectives. Thanks to this successful collaboration, AGUAYO II was selected for funding and awarded the maximum grant available within this funding round.
