- With an expectation of about 6 GW of battery storage across Iberia by 2030, Aurora Energy Research has unveiled Chronos, its bankable battery valuation software, covering both Spain and Portugal.
- Following successful deployments in Great Britain and Italy, Chronos is now accessible in Iberia, with Australia and ERCOT next on the list.
- In a period marked by increasing demand for clean energy and efficient storage solutions, Chronos emerges as a pivotal tool in the evaluation of storage assets economics, particularly in areas with high renewable penetration like Iberia.
MADRID (AURORA ENERGY RESEARCH)—Aurora Energy Research, the leading global provider of energy market analytics, announces the launch of Chronos Iberia, its bankable battery valuation software. Extending its reach beyond Great Britain and Italy, Chronos is now available to the Iberian market.
The rapid increase of renewable generation in the Iberian market has led to booming interest in storage. In Spain, renewable generation is expected to represent over 80% of the generation mix by 2030. In Portugal, that number is expected to reach 90%. This has led to a booming demand for storage technologies able to shift generation from periods of excess supply to periods when renewable generation is unable to meet demand. In the context of a battery market expected to reach around 6 GW by 2030, Aurora Energy Research has launched Chronos to enable the simple, accurate evaluation of revenue streams for storage.
Underscoring Aurora Energy Research’s commitment to delivering innovative solutions in the pursuit of a sustainable energy future, Chronos Iberia aims to revolutionise energy storage solutions across the region, with further plans for growth into Australia and the US.
“As a trailblazer in battery analysis in Iberia since 2021, Aurora has been instrumental in guiding early investment decisions for battery projects that are now under construction or in advanced stages of development,”
Ana Isabel Barillas, Managing Director, Iberia & LATAM, Aurora Energy Research, said.
“Our comprehensive analysis and cutting-edge software are backed by a team of dedicated market experts, ensuring the highest level of support, accuracy, and reliability. This Iberia-specific expertise is enhanced by our extensive experience in leading battery markets globally, including Great Britain, Australia, and the US.”
Chronos Iberia is aimed at investors, developers, and utilities, offering advanced insights essential for crafting efficient energy storage strategies. It enables users to conduct multiple valuations efficiently, saving valuable time and resources. The results generated are deployable in due diligence, transactions, and debt financing.
The software’s features allow not only for the inclusion of the configuration (standalone or in co-location with RES) and specific technical parameters of each project, but also for the evaluation of different commercial strategies, helping inform investment and debt decisions in a comprehensive and robust manner. In M&A, Chronos is used to support competitive bids, helping to refine investment strategies by identifying key value drivers and enabling the evaluation of specific opportunities quickly and automatically, minimizing calculation errors.
Barillas continued:
“Chronos Iberia exemplifies our commitment to innovation. Leveraging bankable market curves that have been used in hundreds of transactions worldwide, our software’s robust analytical capabilities, supported by Aurora’s global expertise in battery analysis and financing, make it an indispensable tool for navigating the complexities of the energy storage market.
“We are proud to continue our legacy of excellence and leadership in the field, driving the energy transition forward in Iberia and beyond.”
Our experts are available for further comments, and Amy Crisp will be available to manage commercial questions.
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Zina Fragkiadaki, Press Officer | +44 (0) 7747 219 913
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ABOUT AURORA ENERGY RESEARCH
Established in 2013, Aurora Energy Research is a leading global provider of power market forecasting and analytics for critical investment and financing decisions. Headquartered in Oxford, we operate out of 14 offices worldwide covering Europe, North & South America, Asia, and Australia. Our comprehensive services include market outlook packages for energy industry participants, advisory support, and innovative software solutions. We foster diversity with a team of over 600 experts with backgrounds in energy, finance, and consulting, offering unparalleled expertise across power, renewables, storage, hydrogen, carbon, and fossil commodities. Our mission is to facilitate the global energy transition through widely trusted quantitative analysis and high-quality decision support.
