Glencore, FCC Ámbito, and Iberdrola have signed a new agreement for the recycling of lithium-ion batteries in Spain and Portugal. With the help of battery production waste and end-of-life batteries, the group aims to create recycling and second-life solutions for lithium-ion batteries. It is planned to build a factory specifically for recycling batteries; the location of the factory has not yet been chosen.

The project will combine the expertise of Glencore, a major mining company, renewables developer Iberdrola and FCC Ámbito, a subsidiary of FCC Servicios Medio Ambiente, that deals with commercial and industrial waste. The project will be conducted in collaboration with the Iberian Energy Storage Research Centre, which has already conducted research into the capabilities of existing battery recycling. As the demand for lithium batteries increases, so too does demand for recycling. The recycling of battery materials is expected to reach 35,000 tonnes annually in Spain by 2035.

In February 2023, Iberdrola received environmental permits for the 1.2 GW Fernando Pessoa solar project in Portugal. The Fernando Pessoa project is said to be the fifth-largest solar photovoltaic plant in the world and is situated at Santiago do Cacém, near Sines. It will feature Prosolia Energy as a partner and is anticipated to go operational in 2025.