– RPC and Altea Green Power have entered a development partnership for 1 GW of battery energy storage in Italy
– RPC adds Italy to its European storage pipeline, which now stands at more than 5.5 GW
– The partnership aims to achieve ready-to-build status for the pipeline in the next 2-4 years, with potential for expansion or cooperation in other technologies.
Renewable Power Capital (RPC) and Altea Green Power have formed a partnership for the development of 1 GW of battery energy storage in Italy. This adds to RPC’s European storage pipeline, which now exceeds 5.5 GW. The partnership aims to involve local municipalities and stakeholders, with a goal of achieving ready-to-build status for the pipeline within 2-4 years. The collaboration may expand beyond 1 GW or into other technologies in the future. RPC recently completed 50 MW in Finland and 57 MW in the UK as part of its strategy to advance decarbonization in Europe.
RPC was advised by Ashurst and Fichter, while DLA and Green Dealflow advised Altea Green Power in the partnership. Kevin Devlin, CEO of RPC, highlighted the potential of the Italian storage market and expressed excitement about working with Altea Green Power as an experienced development partner. Giovanni Di Pascale, CEO of Altea Green Power, emphasized the impact of the agreement on their BESS storage projects and overall power capacity, expecting significant growth and improved business practices.
The partnership signifies a strategic move for both RPC and Altea Green Power in the renewable energy sector, with a focus on the high margins of storage projects in Italy. This collaboration supports their ambitious operating and financial targets set for the coming years, aligning with the growing demand for alternative energy solutions and storage facilities in Europe.