The Energy Storage Report 2024

Now available to download, covering deployments, technology, policy and finance in the energy storage market

Aquila Capital co-developing Italian clean energy portfolio including 90MW energy storage

By Sean Rai-Roche
LinkedIn
Twitter
Reddit
Facebook
Email
The companies have exceeded their target of agreeing to co-developing 750MW of solar projects in Italy. Image: Powertis.

Spanish solar company Soltec Power Holdings, through its subsidiary Powertis, has sold a controlling stake in 421MW of its solar PV projects and 90MW of energy storage in Italy to German investment firm Aquila Capital under a co-development agreement.

Aquila has acquired a 51% stake in a portfolio of 15 solar PV projects as part of the deal, with Powertis retaining 49%. However, the agreement includes an option for Aquila to acquire the remaining stake from Powertis once the projects reach “ready-to-build stage or at their commercial operation date”.

This article requires Premium SubscriptionBasic (FREE) Subscription

Enjoy 12 months of exclusive analysis

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Annual digital subscription to the PV Tech Power journal
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

In line with previous arrangements between the two companies, Soltec Power Holdings has been granted certain rights over the supply of solar trackers used in the projects, as well as contracts for the projects’ construction works.

The transfer means that Powertis and Aquila have exceeded the target set when the pair penned an agreement last year to co-develop up to 750MW of solar projects in Italy under the 49%/51% ownership system.

“Italy is a very important market for Powertis, where we expect to continue to boost our presence and consolidate our position as a key developer in the country,” said Pablo Otín, CEO of Powertis.

“With this transaction, we are taking a further important step for our investment strategy in Italy, a key market in southern Europe with extensive potential for renewable energy,” said Roman Rosslenbroich, CEO and co-founder of Aquila Capital, which floated on the London Stock Exchange in 2019 in order to pursue large-scale European renewable projects.

This story first appeared on PV Tech.

8 October 2024
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 8-9 October 2024 is our second PV CellTech conference dedicated to the U.S. manufacturing sector. The event in 2023 was a sell out success and 2024 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.
17 June 2025
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 17-18 June 2025, will be our fourth PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2026 and beyond.

Read Next

July 19, 2024
Peak Energy, a startup claiming to be the ‘first American venture to advance globally proven sodium-ion battery systems,’ has raised US$55 million in a Series A funding round.
July 19, 2024
Developer Harmony Energy is set to build a 100MW/200MWh battery energy storage system (BESS) project in France, the country’s largest.
July 19, 2024
Tesla has agreed to supply US solar PV and energy storage developer Intersect Power with 15.3GWh of its Megapack battery storage solution.
July 18, 2024
US solar PV and energy storage project developer Intersect Power has closed two financing deals worth US$837 million for three battery energy storage system (BESS) projects.
July 18, 2024
Renewables developer rPlus Energies has secured more than US$1 billion for a 400MW solar-plus-storage project In Utah, US.

Most Popular

Email Newsletter