SUSI Partners, utilizing its SUSI Energy Transition Fund (SETF), has broadened the scope of its Italian solar development platform to incorporate battery storage projects.
ReFeel New Energy (RNE) has exceeded its initial goals and is currently in the process of developing over 750MW of battery energy storage system (BESS) capacity, with 200MW awaiting final authorization to begin construction.
RNE, initially established in early 2022 as a solar PV development platform under SETF, is led and co-owned by a highly experienced local management team with a 15-year history of founding and managing the clean energy company ReFeel. According to SUSI Partners, RNE now possesses one of the most advanced portfolios of BESS projects in Italy.
The emerging expansion of BESS in Italy is primarily driven by the growing contribution of intermittent renewable energy sources to Italy’s electricity generation, necessitating storage capacity to balance supply and demand throughout the day.
In line with Italy’s renewable energy targets set forth in the European Union’s RePowerEU plan, which aims to more than double renewable capacity to 131GW by 2030, the country will need to bring nearly 20GW of storage capacity online within the next six years.
Given the supportive regulatory framework that offers revenue opportunities through capacity markets, price arbitrage, and the provision of ancillary services, Italy is considered an extremely attractive market for the greenfield development of BESS.
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