Renewable Power Capital (RPC) and Altea Green Power have entered into a development partnership for 1.1 GW of battery energy storage (BESS) projects in Italy. This important agreement involves the development of 9 BESS projects over 3 and a half years. This marks RPC’s entry into the Italian BESS market.
Furthermore, this deal follows RPC’s recent ready-to-build BESS investments in two other countries, having recently completed 50MW in Finland and 57MW in the UK. It forms part of RPC’s broader strategy to accelerate decarbonisation across Europe. To find out more about RPC’s upcoming BESS projects in Europe explore our database.
RPC CEO Kevin highlighted, “Kevin Devlin, CEO at RPC, said: “This is an opportune time to enter the Italian storage market through a development partnership, given the interesting progress in the regulatory landscape and its significant growth potential.”
Objectives of the Joint Venture
The primary objective of this partnership is to accelerate the decarbonization process across Europe. The collaboration aims to add a new jurisdiction to RPC's rapidly expanding European storage pipeline, which now stands at more than 5.5GW. The partnership is focused on ensuring strong involvement of local municipalities and stakeholders.
The development partnership aims to achieve ready-to-build status for the pipeline in the next 2-4 years. This timeline aligns with the partners' commitment to contribute to the global transition to renewable energy. Additionally, the deal also has the potential to expand beyond the first 1GW or into other technologies.
| What is a battery storage facility? |
| A battery storage facility, also known as a Battery Energy Storage System (BESS), acts like a giant rechargeable battery for the power grid. Unlike traditional power plants that burn fuel, a BESS doesn't generate electricity itself. Instead, it stores excess electricity, typically from renewable sources like solar and wind, and releases it back to the grid when needed.
Here's how it works: Charging Up: During low-demand periods, BESS facilities use surplus electricity, often from solar panels generating power during the day. This electricity is converted into a form the batteries can store.
Storing Power: The BESS facility uses large-scale lithium-ion batteries, similar to those in electric cars, but much bigger. These batteries hold the electrical energy for later use.
Discharging Power: When demand for electricity spikes, or when renewable sources aren't producing (cloudy days or calm winds), the BESS releases the stored energy back into the grid, helping to maintain a stable and reliable flow of power.
For more information, refer to our blog regarding battery energy storage systems. |
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