Italian energy and digital transition promoter Redelfi SpA has signed an agreement with asset manager Anthilia Capital Partners SGR to borrow EUR 15 million (USD 16m) for the development of standalone battery energy storage systems (BESS) in Italy.
The loan will be disbursed in two instalments by February 2025, with variable-rate interest to be paid semi-annually. The repayment of the principal is due to commence in December 2026, Redelfi said on Tuesday.
The company will use the proceeds to develop the BESS pipeline of Bright Storage, its joint venture (JV) with Italy-based Flash, a unit of UK investor WRM Group.
Redelfi and Flash first announced the plan for the JV in October 2023 and set up Bright Storage SpA in February 2024.
As agreed, Redelfi controls the JV with a 51% stake, while Flash holds the remainder. The purpose of Bright Storage is to develop 2.8 GW of standalone BESS projects in Italy.
Redelfi acts as the developer and financing partner in the JV, and its agreement with Anthilia is an important contribution to the commitment, the company said.
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