Spanish power utility Naturgy plans to invest 117 million euros ($125.81 million) in electricity storage facilities in Spain, a spokeswoman said on Monday, confirming an earlier report from newspaper El Economista.
The company will set up eight large sets of batteries, seven associated with photovoltaic power plants and a standalone one, the spokeswoman said. The combined storage capacity will be 290 megawatt hours.
Such storage projects allow utilities to use the excess electricity produced by intermittent renewable power plants, such as photovoltaic plants or wind farms, and use it at night or when there is no wind.
($1 = 0.9300 euros) (Reporting by Inti Landauro, Editing by Louise Heavens)