Copenhagen Infrastructure Partners (CIP), through its Flagship Fund CI V, has entered into a new partnership with Italian developer GC Storage Services (GCSS) to develop a 2300MW pipeline of large-scale battery storage projects across Italy. The projects are strategically located across both Northern and Southern Italy, with the first expected to be ready for construction in 2025.
This latest move expands CIP’s footprint in the battery storage sector, following similar investments in the UK, US, Chile, and Australia. The Italian pipeline marks a significant step in CIP’s growth into select European markets where there is a clear demand for energy storage solutions.
The Italian market, with its supportive regulatory framework, presents an ideal environment for CIP to apply its expanding experience in the storage sector, the company said. Italy is expected to become one of Europe’s largest battery storage markets as it seeks to meet its 2030 renewable energy goals and decarbonize its power system, while ensuring security of supply.
The business case for the pipeline is underpinned by long-term contracted revenue from the Capacity Market in Northern Italy, as well as the MACSE auctions to be held in the South, which will help facilitate the development of the projects.
Nischal Agarwal, partner at CIP, remarked, “The partnership with GCSS is a great opportunity for us to expand our pipeline of utility-scale battery storage projects and to enter the promising Italian market. Italy has a clear need for storage and the enabling market and regulatory mechanisms are being put in place to make battery storage projects commercially attractive.”
Roberto Castiglioni, chief executive of GCSS, highlighted the company’s goals, saying, “Together with Agnoli Giuggioli (AG), we created GCSS with the objective of developing one of Italy’s largest and most bankable battery storage platforms. Leveraging our UK expertise and AG’s deep local regulatory knowledge, we are building a portfolio of strategically distributed sites across key Italian zones. Partnering with such an experienced investor like CIP allows us to deliver projects that set new standards for energy storage in Italy.”
With the new partnership, CIP and GCSS aim to play a significant role in Italy’s energy transition and further solidify the country’s position as a key player in Europe’s battery storage landscape.
