Cubico, a leading global renewable energy investor, has forged a strategic joint venture with Storaltil to embark on the development of over 1 gigawatt (GW) of battery energy storage system (BESS) projects across Italy.
The joint venture, slated to kick off with four projects in its initial phase, will see the integration of two contributions from Cubico, boasting a combined capacity surpassing 150 megawatts (MW).
A recent study commissioned by grid operator Terna underscored Italy's pressing need for approximately 71 gigawatt-hours (GWh) of fresh battery storage by 2030. This surge in demand is driven by the imperative to align with the European Union's ambitious target of slashing greenhouse gas emissions by at least 55%.
The collaborative effort between Cubico and Storaltil aims to address grid congestion issues by focusing on the development of BESS projects in strategic locations.
Cubico's extensive network and proficiency in project origination and development within the Italian landscape, coupled with Storaltil's technical prowess, data analytics capabilities, and experience in identifying optimal sites, are poised to underpin the success of the joint venture.
Alessandro Asperti, Country Head for Italy at Cubico, emphasized the significance of the partnership with Storaltil, deeming it a pivotal milestone for Cubico's foray into the burgeoning BESS market in Italy.
“Our collaboration aims to address critical grid challenges and contribute to the realization of Italy's clean energy goals, aligning with the broader European objectives for a sustainable future,” Asperti noted.
