GreenGo Acquires 120 MW BESS Project in Itlay

GreenGo has announced the acquisition of a company owning a project for constructing a Battery Energy Storage System (BESS) in the Province of Catanzaro, Calabria, Itlay.

The BESS will possess a total capacity of approximately 120 MW/480 MWh for energy storage in charge and discharge cycles. This acquisition marks a significant stride in the company's expansion strategy, aimed at strengthening its presence and increasing the proportion of assets with access to regulated energy markets for Italy's transition to renewable energy. GreenGo is positioning itself as a key player in the energy storage sector, expanding its BESS portfolio to around 400 MW, with 250 MW in the advanced authorization phase. Watson Farley & Williams (WFW) provided legal counsel to GreenGo S.r.l. (GreenGo) during the acquisition process.

GreenGo expands its engagement in developing 1,700 MW of projects, providing 100% green, reliable, and advanced energy solutions. This aligns with the country's increasing demand for clean energy and PNIEC objectives, which aim to install 70 GW of new renewable energy plants by 2030. Additionally, investments in large-scale electricity storage are planned to reach at least 70 GWh over the next decade, amounting to over EUR 17 billion (US$ 18 billion).