Spanish provider of residential and commercial energy storage systems Turbo Energy has announced it secured a 366MWh order from a major construction industry group. The deal, valued at around $53mn, involves the deployment of electricity storage solutions across ten locations in Spain over the next two years.
The Nasdaq-listed company stated the contract includes turnkey supply of battery systems and integration of its artificial intelligence-based energy management platform. This system will allow the client to optimise power consumption and better manage energy cost volatility.
A structuring contract in a changing market
Although Turbo Energy did not directly reference the nationwide blackout on April 28 that paralysed Spain for roughly 10 hours, this new order comes amid growing demand among industrial players for improved energy resilience. The project aligns with a broader trend of securing energy supply through decentralised storage systems.
The deployment of large-scale storage systems has accelerated in Spain, especially since the spring. Major players such as Iberdrola, Enlight, and BW ESS have announced battery projects totalling several gigawatts. Simultaneously, combined solar and storage initiatives, such as the one from EDP and Zelestra, are shaping new economic models.
Market valuation boosted by the announcement
News of the deal sent Turbo Energy’s share price soaring by up to 500 % from the previous day’s close. Despite limited trading volume, the company has gained renewed attention since its 2023 listing. Based in Spain, it focuses operations on the Iberian market while relying primarily on a manufacturing base in China.
Equipment rollout is expected to begin in the coming months, with staged completion over two years. The industrial client’s name was not disclosed, but the contract reinforces Turbo Energy’s position in the commercial and industrial storage segment.
