Glennmont Partners from Nuveen and Exus Renewables have announced a collaborative effort to co-develop approximately 800MW of battery storage projects in southern Italy. Under this agreement, each company will spearhead the development of a portfolio comprising around 400MW of projects.
The initiative will see Glennmont and Exus embarking on standalone battery energy storage system (BESS) projects across the Puglia region of Italy. Each company will undertake the development of four projects, with individual capacities of approximately 100MW.
Construction for the initial projects in the portfolio is slated to commence in the fourth quarter of 2026. These projects, facilitated by an Italian developer specializing in battery storage systems, are poised to play a pivotal role in addressing intermittency issues and associated price fluctuations, thereby supporting Italy's clean energy transition.
Francesco Cacciabue, CFO at Glennmont Partners, emphasized the critical role battery technology plays in supporting established clean energy generators, expressing confidence in the project's ability to deliver robust returns to investors while advancing renewable energy objectives in the region. Alfonso Cebrián, Head of International Business Development at Exus, highlighted the significance of this collaboration as a strategic move to expand their presence in the Italian market, laying the groundwork for future growth and innovation.
Natalia Ordoñez, Head of EU Development & Construction at Exus, underscored the meticulous approach taken in project development, ensuring secure land rights and grid interconnection, in line with the broader vision to establish a resilient pipeline of BESS projects across Europe. This ambitious endeavor follows Glennmont's recent foray into the energy storage market with a 30MW BESS project in Finland, signaling their commitment to advancing sustainable energy solutions on a global scale.
Source: exuspartners.com