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    Nuveen and Exus finalise agreement for 800 MW battery project in Italy

    Nuveen Infrastructure, formerly known as Glennmont, and Exus Renewables have agreed to collaborate on developing 800 megawatts of battery storage projects in southern Italy. The agreement entails launching a series of independent battery energy storage system (BESS) projects in the Puglia region of Italy.

     

    Both Nuveen Infrastructure and Exus Renewables will oversee four projects each, each with a capacity of 100 megawatts. An Italian company specialising in battery storage systems will serve as the developer for all sites. Construction on the initial projects within this portfolio is scheduled to commence in the fourth quarter of 2026.

     

    Francesco Cacciabue, Nuveen Infrastructure’s global head of clean energy investments, commented “As Italy continues its renewable energy transition, battery technology stands to play a hugely important role in supporting established clean energy generators, through its ability to manage intermittency issues and associated price fluctuations.”

     

    “The quality of existing battery storage technologies means they are now capable of fulfilling this role, and they will be a critical enabler as Italy and Europe look to meet their clean energy targets.”

     

    “As a result, we’re pleased to be working with our Italian developer on this project and are confident this new portfolio will provide strong returns to investors, while also supporting more traditional renewables projects in the region.”

     

    Exus Alfonso Cebrián, head of international business development, added “This deal marks our first step into expanding our presence in the Italian market, signalling our intent to establish a robust development platform in Italy that is poised to drive future growth and innovation in the region.”

     

    Nuveen Infrastructure’s recent venture into energy storage follows its debut in the market in 2023 when it unveiled plans for a 30-megawatt battery energy storage system  project in Finland. This initiative will utilize Alfen’s battery technology.

     

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