System integrator Energy SpA and its vertically integrated peer Pylon Technologies have formed a joint venture (JV) to set up a gigafactory in Italy producing batteries for energy storage.
Italy is seeing “too many solar developers moving into storage” and issues around the spike in BESS capex costs shortly after 2022’s capacity market auction, sources told Energy-Storage.news.
Enel Green Power will start building 1.6GW of battery storage projects in Italy this quarter, with the country’s utility-scale market expected to soar in the next three years.
UK battery storage developer Field Energy has announced plans to expand into Italy, a market where the utility-scale sector is set to grow substantially from a negligible base today.
Europe reached 4.5GW of battery storage capacity last year and could hit 95GW by 2050, according to figures from LCP Delta and Aurora Energy Research respectively.
The broader portfolio and management team are critical to securing investment for individual energy storage projects, said senior figures at asset managers Blackrock and Impax.
A 400MW early-stage battery storage project in ERCOT, Texas, has been acquired by a joint venture (JV) controlled by Italian firms Redelfi and Altea Green Power, for up to US$8.5 million.
CO2 Battery company Energy Dome has won €17.5 million (US$18.5 million) in grant and equity financing from the European Innovation Council, the maximum amount available.
