Nuveen Infrastructure (formerly Glennmont) and Exus Renewables have agreed to co-develop 800MW of battery storage projects in southern Italy.
The deal will see Nuveen Infrastructure and Exus commence a series of standalone battery energy storage system (BESS) schemes across the Puglia region of Italy.
These will constitute four projects each for both Nuveen Infrastructure and Exus, each with a total capacity of 100MW.
The developer for all sites will be an Italian company specialising in battery storage systems.
Construction on the first projects in the portfolio is planned to begin in fourth quarter 2026.
Nuveen Infrastructure’s global head of clean energy investments Francesco Cacciabue said: “As Italy continues its renewable energy transition, battery technology stands to play a hugely important role in supporting established clean energy generators, through its ability to manage intermittency issues and associated price fluctuations.
“The quality of existing battery storage technologies means they are now capable of fulfilling this role, and they will be a critical enabler as Italy and Europe look to meet their clean energy targets.
“As a result, we’re pleased to be working with our Italian developer on this project and are confident this new portfolio will provide strong returns to investors, while also supporting more traditional renewables projects in the region.”
Head of international business development at Exus Alfonso Cebrián said: “This deal marks our first step into expanding our presence in the Italian market, signalling our intent to establish a robust development platform in Italy that is poised to drive future growth and innovation in the region.”
This latest move in energy storage for Nuveen Infrastructure comes after its entry into the market in 2023 with the announcement of the construction of a 30MW BESS project in Finland.
This scheme will use Alfen’s battery system.