The Energy Storage Report 2024

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

SUSI Partners’ solar PV platform ReFeel New Energy expands to BESS market

LinkedIn
Twitter
Reddit
Facebook
Email
SUSI Partners said the expansion was based on the growth of the broader ReFeel New Energy team and the progress of its solar PV business. Image: SUSI Partners

Swiss investment fund manager SUSI Partners has expanded the remit of its Italian solar PV platform ReFeel New Energy to develop utility-scale battery energy storage systems (BESS).

SUSI Partners said the expansion was based on the growth of the broader ReFeel New Energy team and the progress of its solar PV business. Currently, over 375MW of solar capacity is under development, of which two projects are ready to be built.

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

Established in early 2022 as a solar PV development platform within the SUSI Energy Transition Fund, ReFeel New Energy currently boasts over 750MW of battery storage capacity.

The company is eager to expand into the Italian BESS market, an area that Energy-storage.news has already reported to have considerable potential. Research firm LCP Delta recently noted that, after annual grid-scale deployments of just 20MW in the last few years, Italy is forecast to deploy 800-900MW in 2023/2024, second in scale only to the UK.

Italian transmission system operator (TSO) Terna released its ‘Study on Reference Technologies for Electricity Storage’ report in August, which noted that a total of 71GWh of new grid-scale energy storage needs to be deployed in Italy by 2030 for it to decarbonise its energy system in line with the EU targets.

Terna added that the average power rating of the 71GWh will need to be one-eighth of the energy storage capacity, meaning a total power rating of the new energy storage capacity of 8.875GW. The 8.875GW/71GWh is in addition to distributed energy storage resources and large-scale projects already procured through past capacity market and ancillary service auctions.

Italian storage potential

In June 2023, regulators in Italy approved new auction rules for grid-scale storage and gave the green light to a 200MW/800MWh battery energy storage system (BESS) project from UK developer Aura Power, while Eni Plenitude brought a 15MW BESS online.

The energy storage market in Italy doubled in capacity in the first half of the year. As of 30 June 2023, a total of 3,045MW and 4,893MWh of energy storage is installed in Italy according to ANIE Rinnovabili, the national trade body representing the renewable and clean energy sectors.

Around half of this capacity – 1,468MW/2,058MWh – was deployed in the first half of 2023 alone, meaning the market, led by the residential and commercial sector, doubled in size from the end of 2022 to the end of the first half of 2023. However, the market will likely slow down in H2 2023, as ANIE Rinnovabili expects a downturn in the residential and commercial segments to continue into the second half of the year.

In addition to the growth of the energy storage market, the European Union’s RePowerEU plan also outlined the Italian renewables targets, envisioning more than doubling the countries’ renewables capacity to 131GW by 2030, almost 20GW storage capacity will have to be brought online over the next six years.

Energy-storage.news’ sister publication PV Tech also reported that Italy is adding at least 4GW of solar in 2023.

Paolo Viscontini, president of trade association Italia Solare, said the country already installed almost as much capacity as the whole of 2022 (2.3GW) in H1, and is expected to finish the year with at least 4GW.

The main driver for the increase of solar additions in Italy could be explained through the 110% Superbonus scheme that supported the installation of solar panels in the residential market as well as the implementation of battery storage.

Read Next

May 9, 2024
The state of Queensland, Australia, has committed to investing AU$448 million into battery storage technology at a coal power plant.
May 1, 2024
G7 nations have agreed a new global energy storage target of 1500GW by 2030, a six-fold increase from today’s levels.
April 25, 2024
Developer Enerside Energy has sold a project combining agrivoltaics (agriPV) and a battery energy storage system (BESS) in Italy to Chint Solar.
April 15, 2024
Mitsubishi Power Americas’ spinout BESS solution firm Prevalon has entered into a long-term supply deal with lithium-ion battery OEM Rept.
April 2, 2024
Europe has seen its first year when energy storage deployments by power capacity exceeded 10GW in 2023.

Most Popular

Email Newsletter