RPC and Altea Green Power Partner for 1 GW Battery Energy Storage Development in Italy
This collaboration marks RPC's entry into the Italian storage market, expanding its European storage pipeline, now totaling over 5.5 GW.
March 28, 2024. By Abha Rustagi
This collaboration marks RPC's entry into the Italian storage market, expanding its European storage pipeline, now totaling over 5.5 GW.
The partnership emphasizes close engagement with local municipalities and stakeholders to ensure the successful development of the storage projects, which are expected to achieve ready-to-build status within the next 2-4 years. The agreement also allows for potential expansion beyond the initial 1 GW capacity or venturing into other emerging technologies.
RPC's strategic move into the Italian market follows its recent investments in ready-to-build BESS projects in Finland and the UK, amounting to 50 MW and 57 MW, respectively. This initiative aligns with RPC's broader strategy to accelerate decarbonization efforts across Europe.
Legal and technical advisories were provided by Ashurst and Fichter for RPC, while DLA and Green Dealflow served as legal and transaction advisors for Altea Green Power.
Commenting on the partnership, RPC CEO Kevin Devlin stated, "This is an opportune time to enter the Italian storage market through a development partnership, given the interesting progress in the regulatory landscape and its significant growth potential. This deal once again reflects the strength of RPC’s approach to flexibly working with strong partners."
Giovanni Di Pascale, CEO at Altea Green Power, expressed satisfaction with the agreement, highlighting its contribution to the expansion of their BESS storage projects and overall power capacity. Di Pascale noted, "Partnering with well-established international investors specializing in the renewable energy sector provides a strong impetus, prompting us to engage in ongoing dialogue and make significant improvements to our business practices."
He further emphasized the importance of developing alternative energy and storage facilities for the company's growth and expertise. "We look to the future with confidence: the high margins of these projects pave the way for us to achieve the ambitious operating and financial performance targets we have set and outlined in the five-year plan," added Di Pascale.
please contact: contact@energetica-india.net.
Kamalakannan Thiruvadi
Regional Executive, South Asia
Digital Twins and Smart Grids: Bentley’s Vision for Efficient Energy Sector in India
Damien Etienne
Co-Founder and CTO
Avalon ST's Nexun Neo: Affordable A++ LED Solar Simulators for India’s Solar Growth
Nehal Gupta
Managing Director
AMU Drives Clean Energy Transition with Tailored EV Financing Solutions
Maurits van Tol
CEO - Catalyst Technologies
Driving Net Zero: How Johnson Matthey is Pioneering Sustainable Solutions Worldwide
Sharat Goyal
Founder
Impact Infracap Bridges Market Gaps for Key Renewable Energy Components