TeraWatt Technology Closes Series C Funding Round

French-based utility firm ENGIE has acquired two battery energy storage system (BESS) projects in Spain with a combined capacity of 278 MW/1.1 GWh. The financial details of the acquisition were not disclosed.

The acquired projects are located in Andalusia, including a 78 MW/312 MWh project in Álora and a 200 MW/800 MWh project in Tarifa.

Both projects will incorporate synchronous condenser technology, enabling grid stabilization through inertia support and reactive power absorption or injection. Construction is expected to begin in 2027, with phased commissioning scheduled for 2028.

The company currently operates approximately 1.8 GW of renewable capacity in Spain. In addition to the Spain acquisition, ENGIE is also advancing its battery storage footprint in France.

The company recently started construction on a 110 MW/220 MWh BESS project in the municipality of Castelnau d’Aude, southern France, which is expected to be commissioned by mid-2027. The facility will comprise 51 modules and be capable of storing and dispatching electricity for up to two hours.

With these additions and approximately 700 MW of storage capacity already in operation or under construction, ENGIE’s total battery storage capacity in Europe is stated to exceed 1 GW, spanning eight countries including Belgium, Germany, Italy, the Netherlands, Romania, and the U.K.

“These storage projects address a key challenge of the energy transition: combining growth in renewable energy with the stability of the electricity system. They strengthen ENGIE’s ability to provide its customers with reliable, decarbonized, and affordable electricity,” said Paulo Almirante, ENGIE Senior Executive Vice President in charge of Renewable & Flexible Power.

According to Mercom’s Annual and Q4 2025 Funding and M&A Report for Energy Storage, there were 65 energy storage project M&A transactions in 2025, compared to 38 transactions in 2024.

Last Month, Energy Vault, a provider of grid-scale energy storage solutions, announced the acquisition of the McMurtre BESS project from Belltown Power, a utility-scale renewable energy project developer.


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