US-based solar developer-operator Emeren Group Ltd (NYSE:SOL) has completed the sale of 293 MW of battery energy storage system (BESS) projects in Italy to Matrix Renewables, a global renewables platform. This transaction, part of a development service agreement (DSA) initiated in June 2022, marks significant progress toward realizing up to 1,500 MW of BESS projects in Italy. With this latest deal, Matrix Renewables has achieved close to 1 GW of the targeted BESS portfolio.
The two BESS projects, located in the regions of Lazio and Apulia, are expected to provide 4-8 hours of discharge capacity each once commissioned. The projects are slated to reach the ready-to-build status by early 2025.
Mauro Moroni, a shareholder of Gravel A, a joint venture collaborating with Matrix Renewables, highlighted the 1 GW milestone, positioning Matrix Renewables as a leader in the Italian BESS market. Moroni expressed readiness to participate in upcoming auctions scheduled between late 2024 and early 2025.
Yumin Liu, CEO of Emeren Group, expressed excitement about the ongoing partnership and joint venture with Matrix Renewables, Enerpoint, and Kaizen. Liu emphasized the commitment to the solar-plus-storage strategy within Emeren, noting the successful sale of over 975 MW of battery storage projects in Italy.
Paolo Rocco Viscontini, a shareholder of the joint venture Gravel A and CEO of Enerpoint, emphasized the success of the collaboration with Emeren and Kaizen in providing top-tier storage projects to Matrix. Viscontini highlighted the joint venture's capability to play a significant role in the evolving and crucial energy storage sector amid the ongoing energy transition.