X-ELIO’s Lluís Noguera on Driving Energy Innovation Through Solar and Battery Integration

ChemAnalyst Talks with Mr. Lluís Noguera, Chairman and CEO of X-ELIO

X-ELIO, a Brookfield-owned global renewable energy company with over 20 years of experience and more than 3 GW of projects built worldwide, continues to advance the energy transition through innovative solar and storage solutions. With a strong presence across Spain, Italy, Germany, the United States, Japan, Australia, Latin America, and the Middle East, the company is driving forward its mission to deliver affordable, clean, and reliable power. In an exclusive interaction with ChemAnalyst, Mr. Lluís Noguera, Chairman and CEO of X-ELIO, shared insights into the company’s strategic approach to integrating solar and battery technologies, the significance of its landmark Liberty Project in Texas, and its collaboration with BASF to support industrial decarbonization. He also discussed X-ELIO’s growing U.S. pipeline, community engagement initiatives, and the company’s vision for scaling hybrid renewable projects that accelerate global sustainability and energy resilience.

Complete Interview with Lluís Noguera

1.           Please provide an overview of your professional journey and leadership experience in the renewable energy sector. How have these experiences shaped your strategic vision and approach as CEO of X-ELIO in driving innovation and sustainability across global solar and storage markets?

Lluís Noguera: I studied engineering, but early in my career I worked at investment banking. I will never forget that once I was asked what my profession was and I answered ‘finance’. My father was an engineer too and he was in the room and he was very upset with my answer. He said: “an engineer is always an engineer”.

My professional journey has been shaped by those two areas of expertise, and I cannot imagine any larger finance and engineering challenge than to bring those skills to the energy transition.

Energy transition requires massive financial commitments that should only be done with strict financial discipline that my engineering background helps me keep in check.

One of the most interesting parts of the journey has been the technological transition. My first ever energy deal was a hydro one in 2008, then I moved to a utility and worked on gas, hydro and wind. Solar only crossed my path in 2015 and since then it has been clear solar would change everything. I have a similar feeling now with storage, we have been working on it since 2020 and I am convinced it will change everything again.

2.           What factors led X-ELIO to select Liberty, Texas, as the location for its first combined solar and battery energy storage project in the United States?

Lluís Noguera: The selection of Liberty, Texas, as the site for X-ELIO’s first combined solar and battery energy storage project in the United States was driven by several strategic factors. Texas is currently experiencing one of the fastest-growing energy demands in the country, fueled by the resurgence of domestic manufacturing and the expansion of data centers and AI infrastructure. According to EIA forecasts, ERCOT electricity demand is expected to increase by 7% this year, doubling to 14% in 2026. 

This context presents a unique opportunity for renewable developers like X-ELIO to deliver reliable and competitive energy solutions to meet this accelerating demand of the state and its key industries, including the chemical sector, which requires stable and cost-effective energy for continuous operations.

Our project in Liberty plays a key role in strengthening Texas’s energy resilience and supporting its long-term economic growth. The integration of battery storage allows us to offer a flexible and continuous energy supply, complementing solar generation and contributing to grid stability. Liberty reflects our commitment to deploying technologies that offer the most cost-effective energy solutions and to doing so in markets where they can have the greatest impact.

3.           The Liberty Project integrates 72 MW of solar PV with 60 MW of battery storage. Could you elaborate on the technological and operational approach that enabled such integration?

Lluís Noguera: X-ELIO’s objective is to address what we call the energy trilemma: affordable, clean and reliable energy.

Solar has been instrumental in lowering the cost of energy in all the systems where it has been deployed, while also reducing energy emissions from power generation, but for facilities like BASF’s Fraport chemical plant, reliability is also crucial. Industrial sites require energy 24h a day and not just when the sun shines.

Solar combined with batteries can offer very attractive hedges to mitigate energy price volatility. Customers can benefit from the lowest energy source available today, solar, and can use the battery to avoid the highest price hours when renewables are not available and electricity systems need to use expensive peaking plants.

In today’s market, I would add a fourth priority which would be Time-to-Power. Access to affordable, clean and reliable energy has a whole new meaning in the AI world. Energy hungry datacenters require power fast and solar+storage is the technology that can be installed faster allowing the development of this crucial infrastructure.

Texas is at the forefront of this AI revolution and being able to contribute to it with a project like Liberty is magnificent.

4.           How does the 12-year Power Purchase Agreement (PPA) with BASF support both companies’ decarbonization and energy security goals?

Lluís Noguera: The 12-year Power Purchase Agreement with BASF marks a key milestone in achieving 100% renewable energy supply for their expected purchased power needs. Through this agreement, BASF will source 48 MW of power from X-ELIO’s Liberty Project, supporting its goal of reaching climate neutrality by 2050 and reinforcing its long-term energy security.

For X-ELIO, having the commitment to purchase energy from a global leader like BASF has created valuable synergies, enabling close collaboration with one of the most prominent players in the chemical sector. BASF’s commitment provides visibility into energy prices for the project, which enables access to competitive financing. This, in turn, allows BASF to benefit from more affordable energy, while also enabling X-ELIO to develop more projects with the same capital.

5.           In what ways does the Liberty Project strengthen X-ELIO’s position in the U.S. renewable market, and how does it fit within your broader 3.1 GW solar and 2.3 GW storage pipeline?

Lluís Noguera: The Liberty Project marks a major milestone in X-ELIO’s energy storage strategy in the United States. Even before Liberty, we had already made a strong commitment to battery technology, including our investment in the leading German storage company ECO STOR. Liberty is our first large-scale hybrid deployment in the U.S., and it consolidates our position in one of the most dynamic and competitive energy markets globally.

Liberty is part of a broader strategy to scale our hybrid model across all the markets where we operate. Our US pipeline now includes 3.1 GW of solar and 2.3 GW of battery storage, with 671 MW of solar and 600 MW of storage already under construction. The United States continues to be a core growth market for X-ELIO, and Liberty exemplifies the kind of high-impact, technically advanced projects we aim to replicate.

6.           X-ELIO’s Community & Nature Plan emphasizes local engagement. How do these initiatives translate into long-term socioeconomic and environmental benefits for the Liberty community?

Lluís Noguera: At X-ELIO, we believe that renewable energy development should go hand in hand with meaningful local engagement. Through our Community & Nature Plan, we’ve launched several initiatives in Liberty that reflect this commitment and generate tangible social and environmental benefits.

One of the most emblematic projects is the Dwelling Garden, a shared green space designed to foster emotional well-being and community connection through nature-based activities such as gardening, yoga, and seasonal events. We also supported the Liberty River Trade Food Bank by fully restoring its drainage system, improving infrastructure and hygiene conditions to better serve families in need. In collaboration with Meals on Wheels, we developed a marketing campaign to help attract volunteers and strengthen food distribution for vulnerable residents. Most recently, we contributed to the Kleb Woods Nature Preserve by funding a boardwalk to improve accessibility for families, seniors, and people with reduced mobility.

These initiatives help build stronger, healthier, and more inclusive communities while preserving the local environment. Having the Liberty Project rooted in a community where we’ve been able to collaborate closely with local organizations has allowed us to create lasting partnerships and deliver real value beyond energy. As with all our developments, our goal is not only to build infrastructure, but to be good neighbors to the communities we serve.

7.           What challenges—technical, regulatory, or financial—did the Liberty Project face during development, and how were they overcome?

Lluís Noguera: The Liberty Project did not face major complications during its development. However, one of the realities of the renewable energy sector is that no two projects are ever the same, even when located in nearby areas. In this case, climate conditions played a defining role. While Liberty and Harris Counties benefit from strong solar radiation, they also experience heavy and intermittent rainfall. These factors shaped the project from the outset, influencing its design, execution, and long-term maintenance design.

At X-ELIO, we lead each project from its inception as an idea through to its operation, maintenance, and commercialization. This integrated approach allows us to anticipate challenges and deliver robust, well-rounded assets that are tailored to each location. Liberty is a clear example of this philosophy.

The partnership with BASF has also been instrumental. Their backing provided stability and confidence throughout the process.

8.           As global demand for clean energy accelerates, does X-ELIO plan to expand similar hybrid solar-storage projects in other U.S. states or international markets?

Lluís Noguera: Yes. Solar plus storage has become an essential combination for project viability and for maintaining balance in the power market. While solar energy already offered clear advantages over other technologies, such as low environmental impact, speed of deployment, and competitive costs; batteries complement it by providing stability, reliability, and continuous supply. Their ability to deliver stable, dispatchable power makes them especially attractive to sectors such as chemicals, manufacturing, and data infrastructure, where energy continuity is critical. Together, these attributes make our projects more resilient and valuable for our partners. For example, in the chemical industry hybrid solutions help ensure operational stability while advancing decarbonization goals.

For this reason, we are developing hybrid solar and storage projects across all the geographies where we operate. In the U.S., our immediate focus is on Texas, although we are also assessing opportunities in other states.

9.           Is X-ELIO using any procurement & market intelligence tools to monitor raw material prices, volatility, and market trends for energy sourcing and project planning?

Lluís Noguera: At X-ELIO, our decisions are grounded in a detailed understanding of energy market dynamics and supply conditions in every country where we operate. We closely track price movements, volatility, and regulatory trends through independent research and industry analyses to ensure that each project is planned and executed on a solid informational basis.

As a global company, we leverage knowledge from more mature markets to anticipate developments and apply best practices across regions. This approach enables us to make informed, data-driven decisions and maintain flexibility in sourcing equipment such as panels, trackers, and other essential components.

ChemAnalyst Insights on Lithium Hydroxide

In Europe, the lithium hydroxide market experienced a downward trend in Q2 2025, which continued into July due to persistent oversupply, steady imports from Chile, and subdued demand from cathode and battery material manufacturers. Production costs remained under pressure as major producers delayed expansion plans and focused on efficiency amid narrowing margins. Demand was cautious, with battery manufacturers limiting purchases because of high inventories and macroeconomic uncertainty, while alternatives like sodium-ion technology gained attention. Although EV registrations increased modestly, the shift toward hybrids and PHEVs reduced the intensity of hydroxide consumption. Energy storage provided some stability, but the widespread adoption of LFP batteries offered limited support to demand. Overall, the market outlook suggests continued price pressure unless restocking picks up or supply routes from Asia are disrupted.