What Ric Energy does

RIC Energy (legal entity RIC SUN ESPAÑA, S.L.) is a Madrid-headquartered, privately held multi-technology renewable energy developer founded in 2005 by José Luis Moya. The company develops, builds, and operates utility-scale projects across solar photovoltaics, green hydrogen and derivatives (including e-SAF and e-methanol), battery energy storage (BESS), biogas/biomethane, and wind, with a development pipeline exceeding 20 GW and approximately 4 GW of projects delivered across twelve countries in Europe, North America, Africa, and Asia. It serves four primary customer segments: utilities and large energy companies, large industrial and corporate consumers (for renewable PPAs and decarbonization), grid and system operators (for storage and grid stability), and landowners (for land lease and sale arrangements). Revenue mechanics combine one-time project development and sale income (selling shovel-ready or built assets to utilities, corporates, and financial investors), recurring Independent Power Producer income from owned assets under PPAs and merchant arrangements, and transaction-based income from project acquisitions. GTM is enterprise field sales — direct negotiation with utilities, municipalities, industrial companies, and large landowners — supported by project finance relationships with institutional investors, and the company is currently transitioning from a pure developer to a selective IPP, anchored by its Bluesol 1 and 2 plants (60+ MW) in Spain and a portfolio of industrial-scale hydrogen, e-SAF, and biomethane projects. Pricing is not publicly disclosed and is negotiated per project based on scale, technology, and geography; strategic partners include Siemens, Repsol, Técnicas Reunidas, and the Fertighy consortium, while end customers include Pacific Gas & Electric, Southern California Edison, Georgia Power, National Grid, Panasonic, AES, Macquarie, Goldman Sachs, and D.E. Shaw.

Name

Ric Energy

Legal name

RIC SUN ESPAÑA, S.L.

Website

https://ric.energy

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

101–250 employees

Short description

RIC Energy is a Madrid-based multi-technology renewable energy developer and emerging IPP operating across solar PV, green hydrogen, e-SAF, BESS, biogas, and wind in twelve countries, serving utilities, industrial corporates, grid operators, and landowners.

Ownership category

akta.pro rank

Product category

Renewable Energy Project Development

NAICS

Solar Electric Power Generation (221114), Electric Power Generation (22111), Wind Electric Power Generation (221115), Electric Power Generation, Transmission and Distribution (2211)

SIC

Electric Services (4911), Cogeneration Services & Small Power Producers (4991), Electric, Gas & Sanitary Services (4900)

akta.pro primary industry

Commercial Structuring & Offtake (PPAs, CfDs, Corporate PPAs, Merchant Strategy) (EUAMAAAE)

akta.pro secondary industries

Utility-Scale BESS Project Development & Ownership (IPP/Developer) (EUAFAAAA), Solar EPC & Construction (Utility-Scale, Rooftop, Balance of System) (EUAMABAB), Development Management & Owner’s Engineering (Design Basis, Yield, Technical Due Diligence) (EUAMAAAG), Renewable Energy Infrastructure (FSAAAKAG), Renewable Energy Industrial Facilities Construction (Solar, Wind, Storage) (IMAFADAD)

Keywords

• Renewable energy development
• Solar photovoltaic projects
• Green hydrogen production
• Battery energy storage
• Biogas biomethane projects

Headquarters

HQ city

Madrid

HQ country

Spain

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Renewable Energy Project Development and Sale: Development and construction of renewable energy projects (solar, wind, hydrogen, storage, biogas) sold to utilities, large corporations, and financial investors
2. Independent Power Producer (IPP) Operations: Operating own renewable energy assets to generate electricity sales under PPAs or merchant arrangements. First project finance closed in Spain for 60+ MW photovoltaic plants.
3. Project Acquisitions: Acquiring and developing BESS projects in Europe, including acquisition in Italy as part of growth strategy

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

RIC Energy develops, constructs, finances, and operates utility-scale renewable energy projects across multiple technologies including solar PV, hybrid PV+BESS, standalone battery storage, green hydrogen and e-SAF, biogas/biomethane, and wind. The company sells completed projects or operates them as an Independent Power Producer, providing end-to-end project lifecycle services from land origination through construction and long-term operation across 12 countries on 4 continents.

Product overview

RIC Energy is a multi-technology renewable energy developer and emerging Independent Power Producer (IPP) with over 20 years of experience. The company offers an integrated portfolio of renewable energy solutions spanning solar photovoltaic (PV), green hydrogen and derivatives (including e-SAF sustainable aviation fuel), battery energy storage (BESS), biogas/biomethane, and wind energy. Named flagship projects include Compostilla Green and Besaya Green for e-SAF production, HydRIC for green hydrogen, and Bioreciric for biogas. RIC Energy operates across four continents with a development portfolio exceeding 20 GW, providing project development, construction, and operation services to utilities, industrial customers, and communities.

Differentiator

Problem solved

Functional benefit

Products and services

• Solar PV Projects Utility-scale photovoltaic solar energy project development, construction, and operation. RIC Energy is a pioneer in solar PV with over 4,000 MW already completed and a portfolio exceeding 12,000 MW globally across four continents, including hybrid PV+BESS configurations and standalone PV plants. Targeted at utilities, large corporations, and financial investors.
• Green Hydrogen and Derivatives (e-SAF, e-Methanol, e-Ammonia) Renewable hydrogen production through electrolysis and derivative fuels including e-SAF (sustainable aviation fuel) and e-methanol. Portfolio includes HydRIC (30 MW initial, scalable to 200 MW), Besaya Green (250 MW electrolysis), and Compostilla Green (250 MW hydrogen plant producing 60,000 tons e-SAF annually). Targeted at aviation, heavy industry, and chemical sector offtakers.
• Battery Energy Storage Systems (BESS) Large-scale grid-connected battery storage projects including standalone storage and hybrid PV+BESS configurations. Over 300 MW in pipeline across seven Spanish autonomous communities, plus 1 GW in access and connection permits, contributing to electricity grid stability. Targeted at grid operators, utilities, and IPP offtakers.
• Biogas and Biomethane Production Biogas and biomethane production plants that break down organic matter to produce biogas (methane and CO2) and fertilizers. Twenty projects under development with estimated annual production exceeding 1,000 GW and processing over two million tonnes of waste per year, located across Andalusia, Extremadura, Castilla La Mancha, Castilla-León, and Aragon. Targeted at agricultural waste producers, municipalities, and circular economy offtakers.
• Wind Energy Projects Wind energy projects with hybrid opportunities exceeding 600 MW, primarily in Castilla-La Mancha and Castilla y León. Includes self-consumption configurations for industrial hydrogen and derivatives with renewable PPAs. Targeted at utilities and large corporate offtakers.
• Data Center Infrastructure Development Strategic land development, grid connection capacity, and administrative/regulatory management for data center infrastructure in Spain. Leverages the company's experience in large energy infrastructure development across availability of land, electrical connection capacity, and regulatory excellence. Targeted at hyperscalers, colocation operators, and data center developers.
• Independent Power Producer (IPP) Operations Operating owned renewable energy assets to generate electricity sales under Power Purchase Agreements (PPAs) or merchant arrangements. The company has transitioned from being primarily a project developer to a selective IPP, with its first project finance closure in Spain for €29.5 million covering Bluesol 1 and 2 (60+ MW combined). Targeted at long-term electricity offtakers and corporate PPA buyers.

Quantifiable outcome

• Over 200,000 tons of CO2 avoided
• +3 more outcomes

Named customers16 records

Segments4 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• Técnicas ReunidascoreTechnology or Integration · 1 November 2025Awarded Pre-FEED engineering contract for Compostilla Green e-SAF plant in Cubillos del Sil, León.
• SiemenscoreStrategic or Co-development Partner · 27 May 2025MoU signed to jointly develop innovative projects in renewable hydrogen, green ammonia, and e-fuels. Includes cooperation in technical and financial aspects, operational efficiency, process decarbonization, industrial safety, and advanced digitalization of infrastructures. Particularly focuses on Compostilla Green e-SAF project and Besaya project in Torrelavega.
• Enerqos Energy Solutions S.r.l.minorImplementation/ SI/ Consulting Partner · 28 November 2024EPC contractor trusted with construction of four photovoltaic plants in Italy (Nettuno, Rome) totaling 5.3 MWp. Reinforces commitment to technical excellence, local market expertise, and environmental sustainability.
• FertighycoreStrategic or Co-development PartnerEuropean consortium for manufacture of green fertilizers in which Heineken, Siemens, In Vivo and Grupo Maire also participate. Fertighy plans to invest €1.7 billion in its first plant in Spain.
• RepsolcoreStrategic or Co-development PartnerCollaboration on HydRIC project with initial 30 MW electrolyzer, expandable to 200 MW. Project scheduled to come on stream in 2026 and has received grant from EU Next Generation funds.
• AEPIBALminorStrategic or Co-development PartnerSpanish storage association representing Batteries, Cells and Energy Storage Business sector. RIC Energy has partnerships with local and regional institutions where projects are installed.
• UNEFminorStrategic or Co-development PartnerSpanish Photovoltaic Union with over 800 member companies. RIC Energy has been representative of the Storage sector on the Board of Directors since June 2024.
• FADEMURminorStrategic or Co-development PartnerFederation of Rural Women's Associations collaboration agreement to promote progress and equal opportunities for women in rural areas, part of Framework Strategy for Gender Equality.
• Red CrossminorStrategic or Co-development PartnerCollaboration within Red Cross Employment Plan to improve social and labor integration of disadvantaged groups through photovoltaic installation training program.
• Wind Energy Association (AEE)minorStrategic or Co-development PartnerSpanish wind energy association. RIC Energy positioned as leader in wind sector through collaborative partnership.

Scale indicators9 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Sonnedix: Global solar IPP/developer with significant Spanish and European footprint. Both develop utility-scale PV projects and operate owned-asset portfolios — directly comparable in business model to RIC's hybrid developer-to-IPP trajectory.
• Lightsource bp: Global solar developer and IPP operating utility-scale PV and storage projects across Europe, Americas, and APAC. Listed as RIC customer and operates a similar developer-to-IPP model with multi-GW portfolios.
• Q Energy: European renewable energy developer and operator with deep presence in Iberia. Develops and operates utility-scale solar, wind, and storage — directly comparable in technology mix, geography, and customer profile to RIC.
• Capital Energy: Spanish-headquartered multi-technology renewables developer (wind, solar, storage, hydrogen) with Iberian focus. Closest Iberian peer to RIC in terms of geographic concentration and technology portfolio breadth.
• Akuo Energy: Independent renewable energy developer and IPP focused on wind, solar, and storage across Europe, the Americas, and Africa. Comparable multi-technology developer-to-IPP strategy with similar geographic diversification.
• Trina Solar / Trinasolar project development arm: Vertically integrated solar manufacturer-developer with project development operations in Iberia and globally. Listed as RIC customer; comparable in serving the same utility-scale PV market with integrated capabilities.
• Solarpack: Iberian-headquartered solar developer and IPP with multi-GW pipelines, recently acquired by Sonnedix. Provides a relevant benchmark for valuation and exit pathways for mid-sized Spanish PV developers transitioning to IPP models.

Broad incumbents

• Iberdrola Renovables / Iberdrola Energía Renovable: Spain's largest utility and one of the world's largest renewables operators with global presence across solar, wind, storage, and hydrogen. Overlaps with RIC's technology portfolio but operates at vastly larger scale as a regulated utility.
• EDP Renováveis (EDPR): Global renewables developer and IPP owned by EDP, with significant Spanish and European operations across solar, wind, and storage. Comparable customer profile (utility offtakers) but much larger scale and listed parent balance sheet.
• Acciona Energía: Spanish-listed global renewables developer and IPP with technology portfolio spanning wind, solar, storage, and hydrogen. Closest Spanish large-cap incumbent comparable to RIC's Iberian-focused development pipeline.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ric Energy