Pictured is the 52 MW Brovales Solar Project of Q ENERGY that’s nearing completion. It is part of the company’s Taurus B portfolio in Spain for which it has achieved financial close. (Photo Credit: Q ENERGY)  
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Q ENERGY Achieves Financial Close On 252 MW In Spain

Q ENERGY secures Spain solar growth with 252 MW hybrid PV-battery portfolio and fixed long-term PPAs

Anu Bhambhani

  • Q ENERGY has closed financing for 7 Spanish solar PV plants totaling 252 MW with hybrid storage 

  • The company says 10-year fixed PPAs secure revenue even during zero or negative market price periods 

  • This portfolio – Taurus B – is Q ENERGY’s first Iberian IPP portfolio, with projects completing through 2026 

Q ENERGY, a Hanwha Solutions company, has announced financial close on a portfolio of 7 solar PV plants with a combined capacity of 252 MW in Spain. All the projects, currently under construction, will be hybridized with battery storage. 

Mitsubishi UFJ Financial Group and BNP Paribas arranged the financing. The company added that, upon completion, these projects will generate enough clean energy for 131,000 Spanish households. 

As owner, EPC and O&M contractor of this portfolio, Q ENERGY says that the debt is shared across projects. These facilities have secured revenue generation with 10-year fixed power purchase agreements (PPA), ensuring payment even during zero- or negative-priced hours or grid curtailments in Spain. This, it explains, reduces long-term market risk and creates a ‘pseudo cross-settlement’ effect across the PPAs, lowering overall revenue volatility.

The Taurus B portfolio is spread across the Extremadura, Seville, and Castile and León regions. Further divided into 3 sub-projects, the largest of the lot is the 105 MW Carmona portfolio of 3 PV plants, scheduled to be realized in H2 2026. It will be accompanied by a 25 MW battery energy storage system (BESS). 

The Zaratan cluster also comprises 3 projects with a 75 MW BESS facility. These projects are due for completion by the end of 2026. A single farm, Brovales, with 52 MW solar capacity, is close to completion. 

Q ENERGY says Taurus B is its maiden independent power producer (IPP) portfolio on the Iberian Peninsula.

The company continues to strengthen its presence in Europe. In March 2025, it entered into a partnership with CDPQ-backed Velto Renewables, which will acquire large-scale renewable energy projects from Q ENERGY over the next years (see Europe Solar PV News Snippets).