Storage developer Eku Energy has signed a framework agreement with Renera Energy, securing exclusivity over 1GW of battery projects in Italy.
As part of the agreement, Eku Energy is already funding projects with a combined capacity in excess of 100MW in the south of Italy, a region with high levels of renewables penetration and an increasingly congested grid.
Italy aims to generate 65% of its electricity from renewable energy sources by 2030, by which time it is predicted to be the third largest energy storage market in Europe.
Eku Energy chief executive Sandra Grauers Nilsson said: “Italy is a key market for Eku Energy as we continue our global expansion, and we’re thrilled to have partnered with Renera Energy to help meet the country’s growing need for energy storage.
“By combining our deep global expertise in energy markets with Renera’s specialist local knowledge we will deliversafe, secure and reliable energy storage solutions that advance Italy’s clean energy transition.”
Renera Energy Italy chief executive Lars Konersmann added: “In order to implement the European energy transition as fast as possible, we are excited to partner with Eku Energy to create and develop impactful projects.
“Battery storage is the perfect complement for renewable energy production.
“Combining it with our Solar Power Plant pipeline we are moving Italy an important step ahead on the way to a completely renewable energy supply.”