London-based renewables company Renewable Power Capital (RPC) and Italian renewables developer Altea Green Power have entered a development partnership for 1GW of battery energy storage in Italy.
The partnership aims to achieve ready-to-build status for the battery storage pipeline over the next two to four years. It also marks RPC’s entrance into the Italian market, stating the potential for expanding the cooperation beyond 1GW or in other technologies.
Kevin Devlin, CEO at RPC, said in a release: “This is an opportune time to enter the Italian storage market through a development partnership, given the interesting progress in the regulatory landscape and its significant growth potential.
“This deal once again reflects the strength of RPC’s approach to flexibly working with strong partners. We see the Italian storage sector as a strategic priority and we’re excited to be joining forces with such an experienced development partner as Altea Green Power.”
Giovanni Di Pascale, CEO at Altea Green Power, commented that the co-development agreement adds another component to their portfolio of BESS storage projects, enhancing their overall power capacity.
“Partnering with well-established international investors specialising in the renewable energy sector provides a strong impetus, prompting us to engage in ongoing dialogue and make significant improvements to our business practices.
“Additionally, the development of alternative energy and storage facilities serves as an important boost to our growth and know-how. We look to the future with confidence: the high margins of these projects paves the way for us to achieve the ambitious operating and financial performance targets we have set and outlined in the five-year plan.”
