The joint venture marks the entry of BW ESS and Penso Power into the Italian market, which is expected to be one of the most active markets in Europe for battery energy storage. ACL Energy, BW ESS and Penso Power will become joint shareholders in three development stage projects totalling 395 MW connection capacity, and the partners will jointly fund the development expenditure. The 111 MW project in Lombardia and the 97 MW project in Puglia have been submitted to the Italian Ministry of Energy for approval. The 187 MW project in Piemonte will be submitted for approval later this year.
Terna (the Italian TSO) estimates in the last Adequacy Report for the Italian Electricity System that Italy will need around 27GW of energy storage capacity by 2033 to add to a planned 120 GW+ of renewable generation to the Italian grid.
“We are proud to enter into this partnership with international players with such successful track record in the energy storage industry such as Penso Power and BW ESS” said Nicola Locascio, Managing Partner of ACL Energy. “This Joint Venture is a fundamental pillar in our medium-long term strategy and consolidates ACL’s ambition of becoming a leading player in the rapidly expanding energy storage business in Italy.”
Roberto Jimenez, Executive Director of BW ESS, added that the deal is another example of BW’s commitment to the energy transition and sustainable infrastructure.
“We look forward to working with Penso and ACL to deliver these three projects and leverage the best practices we have seen from similar investments in other markets” said Mr Jimenez.
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