Another substantial development agreement for battery energy storage system (BESS) projects in Italy has been struck, this time between solar and storage installer Lemon Sistemi and investor Volt ESG.
Developers Matrix Renewables and Emeren have agreed a deal for a 410MW/3,280MWh BESS project portfolio in Italy, equating to an average discharge duration of 8 hours.
Developer Redelfi and investor WRM Group have signed a term sheet to create a joint venture (JV) targeting 2.8GW of standalone battery storage investments in Italy over a three-year period.
The energy storage market in Italy doubled in capacity in the first half of the year, though Q2 saw the first slowdown in nine quarters and that could be repeated in H2, according to the country’s renewable energy trade body.
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.
Italy-based Energy Dome, the maker of a proprietary CO2-based long-duration energy storage system, has closed the second tranche of its Series B, raising another €15 million bringing the total to €55 million (US$62 million).