Sungrow will take binding offers in July for its up to 350 MW Spanish BESS portfolio from a small handful of shortlisted parties, it is understood.

Assets on the block are understood to include four BESS facilities located across Valencia, Galicia and the El Norte region of the country, with an initial set of the projects to come online in 2026 and the remainder in 2027, as previously reported.

Having previously taken indicative bids for the portfolio in Q1, Sungrow and financial advisor PwC earlier in Q2 selected around three parties for the second round of the process, according to market sources.

Newly formed European BESS platform Actuate Energy, which is backed by US-based investor NGP Energy Capital Management, is one of the parties mooted to be preparing a final offer.

In total, one European utility and two financial investor-backed entities are believed to be in the final stages of the process.

Engie and EQT-backed Zelestra have both previously been connected to the transaction, although it is not known whether either are still involved.

Sungrow submitted a planning application for its 40 MW “BESS Eunate” facility in the municipality of Olite in the comarca of Tafalla, Navarra, with local authorities in summer 2025, according to NPM’s signals database, and an application for its 50 MW / 200 MWh “BESS Cordovilla” facility in Galar, also in Tafalla, Navarra at around the same time.

The company previously in Q3 2025 acquired a two-project, 110 MW / 440 MWh BESS portfolio in Vall D’Uixó, Castellón, Valencia from ID Energy Group, as reported exclusively by NPM.

Sungrow subsidiary Sungrow Renewable Energy Spain purchased two SPVs that own the projects – Vadux Solar and Julben Solar – at the end of September last year, according to filings.

Sungrow already owns the adjacent, consented 55 MW / 220 MWh BESS Cuevas project, which has an estimated capex of EUR 77m.