EdgeMode, Inc. has executed an agreement to acquire 51% of the share capital of Ibersun Generación, S.L., securing majority control to launch a large-scale Battery Energy Storage System (BESS) platform in Spain.
The agreement is non-binding and subject to Due diligence by EdgeMode. Definitive agreements will be executed post Due diligence.
The joint venture directly addresses critical structural needs within the Iberian power market to balance the grid’s heavy reliance on solar power, capturing excess daytime generation to eliminate outages, extreme market price spikes, and rising consumer bills. The Spanish government is heavily prioritising utility-scale energy storage to stabilise a national grid that has become increasingly dependent on intermittent solar generation, comprising circa 80% of generation capacity during peak afternoon hours. This heavy solar reliance without adequate storage has historically triggered severe grid power pricing spikes and localised outages.
Charlie Faulkner, CEO, EdgeMode, sees the timing as vital: “The deployment of Battery Energy Storage Systems (BESS) is a critical structural necessity in Spain. As Europe’s leading location for utility-scale solar expansion, Spain’s energy landscape faces unique pressures that make large-scale storage vital for developers, grid operators, and consumers alike.
“To accelerate grid resilience, the Spanish administration has deployed substantial financial incentives, offering aggressive government grants and subsidies for certified BESS developments.
“This joint venture is uniquely positioned to leverage these subsidy frameworks to materially lower build costs and expand investor returns on capital.”
The acquisition instantly incorporates 52 MW of grid-connected BESS projects into EdgeMode’s near-term development pipeline, with all initial sites on track to achieve Ready-to-Build (RTB) status by the end of 2026. Complementing this near-term capacity is a massive 1.9 GW pipeline of strategically secured land plots.
These locations were specifically chosen for their immediate proximity to local electrical substations, securing critical priority access (prelación) to grid connections and optimising the platform for future capacity auctions under Spanish energy regulations.
Once fully developed, the total consolidated portfolio is estimated to yield approximately 2,900 megawatt-hours (MWh) of storage capacity, with the first projects projected to be operational within 18 months.
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