Gravel A is a successful joint venture between Emeren Limited and Enerpoint, active in development and construction of utility-scale solar power plants, and Kaizen Invest Holding, a private investment company in energy, real estate, and infrastructure. By forming a joint venture partnership, along with Matrix, Emeren can leverage its years of expertise and experience in the ever-growing and evolving state-of-the-art Italian solar + battery industry.
The projects feature standalone storage systems, with a cumulative capacity of 293MW and a discharge duration of 4-8 hours for each project. The new projects sites are in Apulia and Lazio, with the latter entering a strategically significant area that is not highly congested but addresses important grid nodes for balancing purposes. The Ready-To-Build status is expected to be achieved by early 2025.
Yumin Liu, CEO of Emeren Group, commented, "We are excited to be part of the ever-growing partnership and joint venture with Matrix Renewables, Enerpoint and Kaizen, as it shows we are dedicated to the solar plus storage strategy and mission within Emeren. While making strides and progress within our storage pipeline execution, we have now successfully sold over 975 MW of battery storage projects in Italy. We are proud of our accomplishments and look forward to new developments as we move into 2024."
Paolo Rocco Viscontini, shareholder of the JV Gravel A and CEO of Enerpoint, commented, "Such a result is proof that the joint venture with Emeren and Kaizen, dedicated to providing the best storage projects to Matrix, is successfully working. The energy transition requires significant storage targets, and Gravel A has all the experience and capability to play a relevant role in this exciting sector."
