Enel And Masdar Explore Joint Battery Storage Projects In Italy

(MENAFN- The Arabian Post) Greenlogue/AP

Enel, Italy's largest utility, and Abu Dhabi-based renewable energy firm Masdar are in preliminary discussions to jointly develop battery storage capacity within Italy. The announcement was made by Enel CEO Flavio Cattaneo during a business conference in Milan. The companies, already partners in renewable energy ventures in Spain, are considering expanding their collaboration to include energy storage systems in Italy.

Cattaneo highlighted a shared vision with Masdar to advance into new markets, specifically mentioning Italy's interest in battery and storage systems. This potential partnership aligns with Italy's broader strategy to enhance its renewable energy infrastructure. As the country increases its capacity for solar and wind energy, the need for efficient storage solutions becomes critical to ensure a stable power supply during periods when renewable sources are not generating electricity.

Italy's transmission system operator, Terna, has projected a requirement for 71 gigawatt-hours of new grid-scale energy storage by 2030 to meet the European Union's decarbonization targets. This includes an estimated 8.875 gigawatts of power rating for the new storage capacity. To facilitate this, Terna plans to initiate an auction for energy storage capacity at the end of September.

The collaboration between Enel and Masdar in Spain serves as a precedent for their potential projects in Italy. In Spain, Masdar acquired a 49.99% stake in 2GW of solar energy plants operated by Endesa, a subsidiary of Enel, with plans to add up to 0.5GW of battery energy storage systems. This €817 million investment marked one of Spain's significant renewable energy transactions, reinforcing Masdar's commitment to expanding its renewable energy footprint in Europe.

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Masdar's strategic investments are part of its broader goal to achieve 100GW of renewable energy capacity globally by 2030. The company has been actively expanding its presence in Europe, including a recent agreement to acquire a 49.99% stake in four Endesa solar assets in Spain, totaling 446 megawatts , for €184 million. These moves underscore Masdar's dedication to supporting Europe's transition to renewable energy.

Italy's focus on developing battery storage systems is crucial for integrating the increasing share of renewable energy into the national grid. Currently, the country has a growing market for battery energy storage systems, with a significant portion consisting of residential-scale systems associated with small-scale solar plants. However, to meet future energy demands and ensure grid stability, there is a pressing need to develop large-scale, stand-alone utility storage facilities.

via Greenlogue

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