Emeren Group Ltd and Matrix Renewables are joining in partnership to develop a portfolio of Battery Energy Storage Systems (BESS) in Italy, with a total development capacity of up to 1.5 GW. The two companies will collaborate on a Development Service Agreement (DSA), with non-refundable payments being made to Emeren for each project onboarded and for achieving each development target. The first portfolio of more than 260 MW of standalone BESS projects is already in progress.
This venture is set to have a significant impact on Italy's renewable energy sector, as the country attempts to boost its solar storage output through a new capacity market auction, which is expected to be launched by Terna S.p.A., the Italian transmission system operator, in late 2023. This new incentive scheme aims to implement a more efficient deployment of increasing renewable energy production and support investments in storage technology.
The DSA structure will provide Emeren with the necessary funding to continue the development of BESS projects in Italy.
