In an increasingly competitive renewable energy market, Verbund Green Power Iberia is accelerating its expansion with the goal of building and connecting 1500 MW of solar power by 2028.
This was confirmed by José Benito García Rodríguez , Director of Operations, during his speech at the Future Energy Summit (FES) Iberia 2026 , where he also highlighted that the roadmap is based on structural efficiency and integrates photovoltaic deployment, hybridization, pumping development and a sophisticated commercial strategy.
"We see hybridization as a growth vector where there are possibilities.
We have a wind power portfolio that is in operation and we are hybridizing it with photovoltaic plants, that is, we are building a solar park that shares the connection point with the wind power.
It will have adequate profitability since the connection infrastructure cost is not so high and, on the other hand, there is inertia, García Rodríguez explained.
"Storage is going to be another important growth vector, and in that sense we are working to incorporate batteries and storage systems in all the plants we have both in operation and under development," the executive said.
"In the current environment, where we see very low pool prices at certain times of the day and only high values in very limited periods, and considering that our portfolio is currently largely photovoltaic, and that the hours we produce are when we capture the least value from the market, then clearly moving towards storage seems interesting to us," he added.
It is worth remembering that the company operates 750 MW in Spain , distributed approximately half wind and half solar.
The portfolio was built in the last four or five years after the Austrian group entered the Iberian market.
Along these lines, VERBUND is developing two pumped storage plants in Spain totaling around 800 MW , transferring its historical experience in hydraulics to the Iberian system.
These are projects with a longer maturation period, but they are strategic in a context of increasing hourly price distortion.
End-to-end profitability: from CAPEX to tradingFor García Rodríguez, competitiveness is not defined solely in the market, but throughout the entire asset cycle.
Companies that control development, construction, operation, and marketing are better positioned to sustain margins.
"The fundamental driver of profitability is CAPEX, it's the cost of investment," he stated.
That component is decided at the beginning and "you can't touch it again for the entire life of the project.
From the choice of land to the proximity to the connection point, each variable directly impacts the cost of the EPC and the future financial structure.
"A good quality project will not only generate more energy, but throughout the entire phase in which you are going to exploit it, it will be much simpler and will have greater availability," he said.
And in the operational phase, the company directly manages its assets, relying on control centers and monitoring technologies to detect deviations and maximize performance.
"We have an Energy Trading department that tries to extract that last euro from all energy production," the specialist explained.
The strategy combines PPA agreements that ensure stable flows with active participation in regulatory markets.
In that sense, they are working on technologically enabling the plants to provide adjustment services.
However, the immediate challenge is not technical or financial, but administrative.
Some of the projects are subject to demanding regulatory milestones.
The final message from Verbund's Chief Operating Officer was clear: We have projects that are subject to this whole milestone issue⬦ and you risk the project if you don't meet them.
The most important thing would be for the Administration to make our lives a little easier and let us finish the projects.