With this latest capital increase, this will drive the company’s first investment in Navarra (Spain) worth EUR 6.5M. After eighteen months of work, the company has approved its business plan for the next five years.
In addition to the dismantling of wind farms and the repairing and reconditioning of wind turbine components as spare parts, the plan includes the promotion of new business lines in the field of recycling of metallic materials such as steel and castings, the composite materials of wind turbines, such as blades and nacelles, as well as organic materials such as gearbox oils among other industrial initiatives.
Backed by the wind industry
RenerCycle is backed by EIT Innoenergy and nine leading companies with recognized experience and international activity in the renewable energy sector. The project promoters include ACCIONA Energy, RWE, Enhol Group and Enerfin (Elecnor Group), the industrial companies Nordex and Ingeteam, as well as the service companies Tetrace, EO6 Engineering and Abintus Consulting & Innovation as the initial promoter of the project.
The new Board of Directors has appointed Javier Villanueva as Chief Executive Officer, who will now lead the company.
Location and timeline
The company’s industrial activities will be developed towards the end of 2025 and cover an initial area of 9,000 m2 that will consist of an industrial plant for the separation and recovery of materials and a storage area for wind components. The company is considering a site in the middle of the Navarre´s Community.
More than 50,000 turbines at the end of their service life by 2030
The great growth of renewable energies worldwide leads the sector itself to develop effective and profitable circularity solutions to achieve a 100% sustainable sector.
It is estimated that in 2030 there will be more than 50,000 wind turbines in Europe that will reach or exceed 20 years of useful life, with Spain and Germany being the markets that will have the most fleet to dismantle with more than 16,000 turbines each. The magnitude of this market is also transferred to blades, a component that from 2025 cannot be landfilled, so they must be recycled. It is estimated that in 2030 more than 500,000 tons of wind turbine blades will have reached the end of their useful life, of which 170,000 tons correspond to the Spanish market.
RenerCycle will initially focus its services on the wind sector to meet the industry’s growing demand, although it was born with the vocation of developing circularity solutions as the market demands them in the wind field and in the solar photovoltaic and battery storage fields.