Italy’s GreenGo expands BESS portfolio with 120-MW acquisition

Italian renewable energy developer GreenGo Srl purchased the company holding the rights to a 120-MW/480-MWh battery energy storage system (BESS) project in the Calabria region of its home country.

The acquisition was announced on Wednesday by law firm Watson Farley & Williams, which advised GreenGo on the move. Financial details about the transaction and the name of the vendor were kept under wraps.

The proposed battery will be installed in the province of Catanzaro, southern Italy. Its acquisition is aligned with GreenGo’s strategy to consolidate its presence in the utility-scale renewables segment and expand its fleet of energy storage assets at home.

Launched in 2018, GreenGo develops solar, wind, storage, hydrogen and hybrid power solutions. The company has 1.7 GW of renewable energy projects in its pipeline and an additional 900 MW of schemes pending approval. Its BESS portfolio consists of about 400 MW, of which 250 MW is in the advanced authorisation phase.

“With the new BESS plant in Calabria, we are strengthening our ability to integrate BESS stand-alone solutions by intervening in a region where the gap of developing storage systems concerning the needs of the national electricity system has yet to be filled,” said Lorenzo Nardon, Head of Finance and M&A at GreenGo.