1. Renewable Power Capital and Altea Green Power partner for 1GW of battery energy storage in Italy.
2. The partnership aims to achieve ready-to-build status for the battery storage pipeline in the next two to four years.
3. Italy is seen as a promising market for battery energy storage investment, with an ambitious target of 9GW capacity by 2030.
Renewable Power Capital (RPC) and Altea Green Power have teamed up for a 1GW battery energy storage development partnership in Italy. The goal is to reach ready-to-build status within the next two to four years. RPC sees potential for expanding beyond 1GW in the future. This partnership signals RPC’s entry into the Italian market and is seen as a strategic priority.
RPC CEO Kevin Devlin emphasizes the opportunity to enter the Italian storage market due to regulatory progress and growth potential. The partnership with Altea Green Power, an experienced developer, reflects RPC’s flexible approach in working with strong partners. Altea Green Power’s CEO Giovanni Di Pascale sees the partnership as enhancing their portfolio and driving growth and expertise.
Italy’s battery market is growing, with Europe poised for a surge in battery energy storage. According to Aurora Energy Research, Italy and Great Britain are among the top markets for battery storage investment in Europe. Italy has set ambitious targets for battery capacity by 2030 and is opening ancillary markets to battery energy storage systems. Investors are attracted by solid spreads, policy support, and capacity market remuneration in these markets.
Legal and technical advisors worked with RPC and Altea Green Power on this development partnership. The partnership is seen as a significant step towards achieving ambitious energy and financial goals outlined in the five-year plan.