Exus Management Partners (Exus) will develop an 85MW wind and solar hybrid project in northern Portugal, the investment and asset management firm announced. today (26 April).
It stated that it will be leading on every phase of project development on behalf of an unnamed third-party investor. The hybrid plant is expected to be operational by the end of 2023.
It is not clear how the 85MW of total capacity will be split between wind and solar.
The company said it was appointed without a competitive bidding process thanks to the strength of its service package spanning from identifying a location for the project through permitting, plant design, EPC negotiation, construction management, commissioning, asset management and PPA contracting.
Exus’ data-driven approach will allow it “to identify and mitigate issues before they occur, enhancing asset productivity, transparency in reporting”, the company said. It added that its monitoring tools would make it possible for the plant owner to hold OEMs to account if components fail.
“Hybrid solar and wind projects represent a significant opportunity to optimise the grid. We expect to see a boom in development across Europe once supporting regulations are put in place,” said Exus’ co-founder and chief operating officer, Carlos Tello Garcia.
“Hybrid projects can enable owners to take advantage of pre-existing infrastructure and more consistently generate power compared to standalone solar or wind projects,” Exus stated. Windpower Monthly has contacted the company for further details about the wind and solar elements of the project.
Madrid-headquartered Exus has a 4.4GW portfolio of wind and solar assets across Europe and the Americas.