1.5GW of battery energy storage systems (BESS) are set to be developed in Italy. Thus, Italy is expected to become one of Europe’s most active grid-scale markets for battery storage.
The BESS will be developed by Emeren and Matrix Renewables, part of private equity firm TPG, through a Development Service Agreement (DSA). Under the DSA, Matrix will provide non-refundable payments to Emeren for each project onboarded and for achieving development targets.
Emeren, known primarily as a solar developer, will take charge of early-stage development work as part of the agreement.
READ ALSO: European Commission Grants Funding for Warsaw-Łódź High-Speed Railway Project
Construction of battery energy storage systems in Italy
The initial portfolio of projects to be developed under the DSA totals 260MW of standalone BESS. Emeren participates in the DSA through a joint venture entity that includes its subsidiary Emeren Limited, local engineering firm Enerpoint S.r.l, and Kaizen Invest Holding S.r.l.
Yumin Liu, CEO of Emeren, expressed confidence in their ability to deliver sustainable solutions for the battery energy storage systems in Italy. This is also the ability to contribute to a cleaner energy landscape. Chris Matthews, MD for Europe at Matrix Renewables, highlighted the joint efforts driving advancements in the Italian BESS market.
Recent activity in Italy includes the final regulatory approval for an 800MWh project. This is as well as the commissioning of a 15MW system for ancillary services. It also includes Enel Green Power’s announcement of the start of construction on 1.6GW of projects.
Matrix Renewables has been active in the California solar-plus-storage market and secured financing for two projects with 80MWh of BESS. The developer was launched by TPG in 2020 through its impact investment vehicle, The Rise Fund.
