SUSI Partners, through its SUSI Energy Transition Fund (SETF), has expanded its Italian solar development platform to encompass the development of battery storage projects. This expansion comes as ReFeel New Energy (RNE), a subsidiary established within SETF in early 2022, has exceeded its initial goals and now boasts a remarkable 750MW of battery energy storage system (BESS) capacity in various stages of development. Notably, 200MW of this capacity awaits the final authorization to proceed with construction.
RNE, a dynamic solar PV development platform, is spearheaded by a seasoned local management team with a remarkable 15-year track record in the clean energy sector, as founders and managers of the renowned clean energy company ReFeel. Their expertise positions RNE at the forefront of Italy's burgeoning BESS projects.
The rapid growth in BESS projects in Italy is primarily driven by the increasing prevalence of intermittent renewable energy generation in the country's electricity mix. The need for storage capacity has become paramount to ensure a seamless match between energy supply and demand throughout the day.
As part of Italy's ambitious renewables targets, aligned with the European Union's RePowerEU plan, the nation aims to more than double its renewables capacity to 131GW by 2030. To achieve this goal, almost 20GW of storage capacity must be brought online over the next six years.
Italy's conducive regulatory framework, offering revenue opportunities through capacity markets, price arbitrage, and the provision of ancillary services, has made the country a highly attractive market for the greenfield development of BESS. This expansion by SUSI Partners signals not only a commitment to sustainable energy but also a strategic move to capitalize on Italy's burgeoning energy storage sector.
