Market entry into Spanish battery storage
Where the real projects are, which pipeline is only paper, and which revenue a lender will bank: merchant, capacity market, tolling and PPAs, built on our own series of OMIE prices.
MoreAdvisory
Advisory for investors in energy: Spain, Europe and the UK.
For funds and investors putting money into energy: battery storage, renewables, EV charging and grid infrastructure. Most mandates are about Spain and Portugal, for investors based in the UK and across Europe; I also take mandates in the rest of Europe and the UK where the asset class is one I have built in. Every mandate is scoped, with a start and an end.
What I do
Pipeline and grid due diligence
Grid access, posted guarantees, permitting and construction risk on the projects you are about to buy or fund.
Entry route and partners
Greenfield, ready-to-build acquisition or a joint venture with a developer, with introductions to developers, EPC contractors and lenders.
Your own platform
When you would rather own the developer: company, team and pipeline built from scratch to your specification in Spain or Portugal.
MoreM&A and exit-readiness
Buy side and sell side, and getting a company in shape to be bought. I have been through it from the seller's chair, twice on the same asset.
Why Spain, why now
- Spain approved a capacity market in September 2026 (Orden TED/966/2026); the first auction has no date yet.
- Tens of gigawatts of storage hold grid access, and only a few hundred megawatts are connected.
- On our own OMIE analysis, a four-hour battery would have earned about €766 per MW per day in September 2026 and €163 in December 2025.
- 42% of the last twelve months' revenue came in July, August and September. Lenders bank a floor, not the best month.
How a mandate works
Usually three months: the market and the pipeline in the first, the entry route in the second, the investment case in the third. Two working sessions a month with your investment team, a weekly call, written deliverables and direct access to me. Fees are quoted per mandate. Conflicts are declared upfront: I chair Capflex Energía, and any opportunity involving Capflex is disclosed at the start and kept out of the mandate unless you ask otherwise in writing.
Questions investors ask
Does Ignacio López Martín advise funds entering Spanish battery storage?
Yes. He advises funds and investors entering battery storage and renewables in Spain: real versus paper pipeline, grid and permitting due diligence, the revenue case a lender will bank, entry route and introductions to developers, EPC contractors and lenders. He chairs Capflex Energía, a battery storage developer in Spain, and writes on storage and the power market for Energy-Storage.News and El Español.
Does he work with investors from the UK and the rest of Europe?
Yes. Most mandates are for UK and European investors looking at Spain and Portugal, and he also takes energy mandates in the rest of Europe and the UK where the asset class is one he has built in: battery storage, renewables, EV charging and wind O&M.
How is a mandate structured and priced?
Usually three months with written deliverables, two working sessions a month and a weekly call. Fees are quoted per mandate; there is no published rate or range.
How do conflicts of interest work?
He chairs Capflex Energía. Any opportunity involving Capflex is disclosed at the start and kept out of the mandate unless the client asks otherwise in writing.