PPC Group and METLEN Energy & Metals have signed a joint venture agreement to develop battery energy storage projects across Romania, Bulgaria and Italy.
The portfolio will have a total capacity of up to 1500MW/3000MWh, according to PPC Group.
The companies will each hold a 50% stake in the joint venture, which will develop, construct and operate the projects.
Around 1000MW of the planned capacity is expected to be implemented within the next 12 months.
The storage projects will use two-hour liquid-cooled battery systems featuring LFP technology.
The companies said the projects will support the operation of nearby photovoltaic and wind farms by storing surplus energy and supplying it to the grid during periods without sun or wind.
The battery systems will also contribute to electricity system stability and optimise the management of renewable energy production.
Konstantinos Mavros, deputy chief executive for renewables at PPC Group, said: “This agreement creates value for both parties and further expands our Group’s already significant presence in Southeast Europe.”
Mavros said: “At the same time, the energy storage projects already under implementation will ensure the optimal use of electricity generation from Renewable Energy Sources and, additionally, the stability of the electricity system in our country and across the entire European continent.”
Mavros said: “PPC is also a pioneer in this field, as the Group’s investment plan includes significant investments in energy storage systems.”
Nikos Papapetrou, chief executive director of the renewables, storage and energy transition platform of METLEN, said: “The agreement with PPC Group marks yet another substantive step in METLEN’s strategy to develop and implement projects that support the energy transition and sustainable development in Europe.”
Papapetrou said: “By combining METLEN’s international experience and expertise in the development, construction and operation of energy projects with PPC’s strong presence and footprint in regional markets, we demonstrate in practice that energy storage is a catalyst for maximizing the value of Renewable Energy Sources and ensuring the reliability of power systems.”