OX2, the Swedish renewable energy developer, has acquired two battery energy storage systems in Italy from Hanwha Energy Europe(renewable energy company), adding a combined 200 MW and 800 MWh of storage capacity to its Italian portfolio.

Deal Details and Project Specifications

The transaction involves two standalone battery energy storage system projects, each rated at 100 MW and 400 MWh, bringing the combined total to 200 MW and 800 MWh.

Both projects are located in the Apulia region in southern Italy and were acquired from Hanwha Energy Europe. OX2 described the facilities as standalone storage projects, meaning they are not co-located with solar or wind generation assets.

Construction on both projects is expected to begin in the second quarter of 2027, with commissioning targeted for late 2028. OX2 did not disclose the financial terms of the acquisition.

OX2's Growing Footprint in Italy

The acquisition expands what OX2 describes as a portfolio of 1.5 gigawatts of projects currently under development in Italy. The company has been active across multiple clean energy technology segments in the country, including onshore wind, solar, and now energy storage.

Paolo Tusa, Country Manager for OX2 Italy, said the deal represents a meaningful expansion of the company's storage ambitions in the country. "This acquisition is a substantial addition to our energy storage portfolio in Italy.

It marks another step forward in OX2's continued expansion in the Italian market across onshore wind, solar, and energy storage technologies. We are proud to further contribute to the Italian energy transition," Tusa said in a statement accompanying the announcement.

Strategic Context in the Italian Energy Market

The Apulia region in southern Italy has become an increasingly prominent location for renewable energy investment, given its geography and solar irradiation levels.

The two newly acquired projects are positioned as standalone storage facilities, a category of infrastructure that supports grid stability by storing and discharging electricity independently of a co-located generation source.

OX2 announced the acquisition on August 5, 2026. The deal with Hanwha Energy Europe, the European arm of South Korean conglomerate Hanwha, marks a transfer of two development-stage assets ahead of their construction phase.

With a construction start planned for the second quarter of 2027, both projects remain approximately a year away from breaking ground at the time of the announcement.

The commissioning timeline of late 2028 means the combined 800 MWh of storage capacity would be expected to enter operation more than two years from the announcement date, subject to construction and regulatory progress.

OX2's Broader Energy Storage and European Strategy

OX2 has been building out its presence across multiple European markets, with Italy representing one of the company's active development territories. The company's Italian pipeline, which now stands at 1.5 gigawatts across technologies, encompasses projects at various stages of the development process.

The addition of battery energy storage to OX2's Italian activities alongside its onshore wind and solar work reflects a broader industry trend of developers pursuing multi-technology portfolios as European governments seek to pair intermittent renewable generation with dispatchable storage capacity. Italy, like other European Union member states, has set targets for expanding clean energy capacity as part of wider decarbonization commitments.

The two Apulia projects, once commissioned, would collectively represent one of the larger standalone battery storage installations in the region, though OX2 made no direct comparisons to other projects in its announcement.

The company framed the acquisition as part of its ongoing commitment to the Italian energy transition rather than elaborating on specific market conditions or grid requirements that the projects are intended to serve.

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