RenerCycle closes its second round of capital increase in less than a year and appoints Javier Villanueva as Chief Executive Officer

  • RenerCycle, created to develop business solutions in the field of the circular economy, is backed by ten 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 strategic investment partner EIT InnoEnergy and the service companies Tetrace, EO6 Engineering and Abintus Consulting & Innovation as the initial promoter of the project.
  • With this latest capital increase, this will drive the company’s first investment in Navarra (Spain) worth € 6.5M. Through this the company will undertake activities associated with the dismantling of wind farms, the repair and industrial refurbishment of wind turbine components for their commercialization in the spare parts market, as well as different lines of activity of recycling the rest of the materials of the old wind turbines.
  • The company is based in Pamplona and last year presented its project to the president of Navarra, María Chivite, who described it as a strategic initiative for Navarra. RenerCycle is already in talks with the Government of Navarra for the implementation of its logistics operations center and recovery of materials in the central area of the region.
  • The new Board of Directors has appointed Javier Villanueva as Chief Executive Officer, who will now lead the new company.
  • The operation, which also includes the signing of a new shareholders’ agreement, has been advised by the law firm IDALIA.

RenerCycle was created in 2022 by 18 companies in the renewable energy sector in response to the current climate crisis and continuous degeneration of the planet’s biodiversity. Aware also that national and international public authorities are establishing regulatory frameworks aimed at supporting strategies and policies that facilitate the promotion, consolidation and development of circular economy business projects. RenerCycle will boost its business activities nationally and internationally, promoting a new circular model of non-linear production and consumption, wherby the value of products, materials and resources is maintained in the economy for as long as possible, waste generation is minimized and waste that cannot be avoided is used to the greatest possible extent. All this in order to contribute to achieving a sustainable, decarbonized economy, and more efficient in the use of natural resources while favoring the competitiveness of the renewable industry, aligned with the main initiatives for the safeguarding of the environment.

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 for  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 (blades and nacelles) as well as organic materials such as gearbox oils among other industrial initiatives.

In the words of Javier Villanueva, the new Chief Executive Officer of RenerCycle, “the wind energy sector has lived an intense history in the last thirty years, but the task is not yet finished and it is our responsibility as a sector to face this new stage in which we must undertake the transformation of the industry to make it totally sustainable through the circular economy. We have to do this process at the same time that we continue to guarantee the same initial purpose with which we launched three decades ago, to promote sustainable progress that respects the biodiversity of the planet in which we live and a fairer treatment with the people with whom we live. In short, to ensure a future for the next generations that are to come.”

RenerCycle is backed by the extensive experience of its partners in the renewable sector, particularly wind, as well as the industrial companies that have collaborated since the beginning of the project and will continue as strategic suppliers approved through industrial service agreements.

RenerCycle has a strong working relationship with different departments of the Government of Navarra such as Economic Development, Environment and Territorial Planning and is currently in advanced talks to close the location of its logistics operations center and material recovery. The company’s industrial activities will be developed towards the end of 2025 and span 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 location located 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 have reached or exceeded 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 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 growing need of this industry, 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.

Representatives of RenerCycle member companies (from left to right and bottom up): Ana Goyen (Ingeteam), Sara Bernaldo de Quirós (ACCIONA Energía), Alfonso García (RWE), Miguel Angel López de Aguileta (ACCIONA Energía), Victoria Marinescu (Idalia), Jesús Cía (Idalia), Ciro Larrañeta (Tetrace), Javier Sanz (EIT InnoEnergy), Fernando Carballo (Enerfin), Juan Peña (Enhol), Jorge Ruiz (EO6 Ingeniería),  Javier Martinez (Enhol), Kepa Sainz (NORDEX) and Javier Villanueva (ABINTUS Consulting & Innovation)

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