ENERGY STORAGE

Who are the key players driving EU storage deployment in 2024?

Your country-by-country guide to the key players driving innovation in Europe’s five fastest growing energy storage markets

BEN COOK

February 22, 2024

  • Italy, Germany, Spain, France and Ireland expected to be the leading EU countries for storage deployment between now and 2031
  • Tamarindo’s Energy Storage Report brings you a country-by-country run-down of the key players driving innovation in the major European storage markets

The UK is forecast to be the European country that will add the most energy storage capacity by 2031. But which will be the fastest growing energy storage markets in the European Union? Forecasts from Wood Mackenzie show that, while the UK will add 25.68GWh of new energy storage capacity during the period 2022 to 2031, the next five fastest-growing markets in Europe will be Italy (which is expected to add 12.23GWh during the period), Germany (8.81GWh), Spain (8.09GWh), France (5.14GWh) and Ireland (4.18GWh).

But which are the organisations that will be driving energy storage deployment in each of these five countries in the coming year? Here Tamarindo’s Energy Storage Report highlights those players that have been at the forefront of storage innovation in Italy, Germany, Spain, France and Ireland in recent months.

ITALY

ACL Energy
Earlier this month, it was announced that Milan-based battery energy storage developer ACL Energy had formed a joint venture partnership with battery operator BW ESS and London-based battery storage developer, owner, and operator Penso Power. The three companies will become joint shareholders in three development stage projects in Italy with a total capacity of 395MW, with the partners jointly funding the development. The projects are in Lombardia, Puglia and Piemonte.
Key figure: Nicola Locascio, managing partner

Altea Green Power
In November, Altea Green Power began construction of a 1GW battery energy storage system project in Italy, called ˜Black Bess”. The project, which will consist of four sites located in central-southern Italy, will be completed by the first half of 2024.
Key figure: Giovanni Di Pascale, CEO

Aura Power
In June last year, Aura Power was granted final approval for the construction of a 200MW / 800MWh battery energy storage system just outside of Maddaloni, Italy.
Key figure: Giulio Benedetti, country manager

BW ESS
Recently formed a joint venture partnership with ACL Energy and Penso Power – the three companies are joint shareholders in three Italian development stage projects with a combined capacity of 395MW.
Key figure: Roberto Jimenez, executive director

Cubico Sustainable Investments
Entered into a joint venture with battery storage developer Storaltil earlier this month with the aim of developing more than 1GW of battery energy storage system projects in Italy.
Key Figure: Alessandro Asperti, country head for Italy

Energy Dome
Recently announced funding commitments of €60 million for a thermo-mechanical 200MWh energy storage system to be located in Sardinia, Italy.

Key figure: Claudio Spadacini, founder and CEO

iCube Renewables
Iberdrola Renovables Italia and Innovo Group established iCube Renewables, a joint venture for the development of photovoltaic plants, wind farms and battery storage facilities in Italy. Under the terms of the joint venture, iCube Renewables acquired Innovo’s entire Italian 614MW pipeline, comprising 474 MW of solar, 88 MW of wind and 52 MW of storage.
Key figure: Rodolfo Bigolin, CEO of Innovo Group

Flash
Flash, part of investment fund WRM Group, last year entered a joint venture with Redelfi focussed on the development of up to 2.8GW of standalone battery energy storage systems (BESS) in Italy over a period of three-years.
Key figure: Domenico Colapietro, CEO

Matrix Renewables
Acquired a portfolio of five Italian battery energy storage systems (BESS) – with a total capacity of nearly 3.8GWh – from solar developer Emeren Group last year. In total, Matrix is planning to collaborate with Emeren on the development of up to 1.5 GW of battery energy storage systems in Italy.
Key figure: Chris Matthews, MD for Europe

Nexta Capital Partners
Entered joint venture with Octopus Energy Generation with the aim of developing 1.5GW of commercial-scale battery storage systems across several projects mostly in the south of Italy.
Key figure: Fabrizio Caputo, co-founder and managing director

NHOA Energy
NHOA Energy was last year selected as turnkey supplier for a 39MWh battery energy storage system in central Italy. The project was a winner in the 2024 Capacity Market auction run by Terna, the Italian transmission system operator.
Key figure: Fabrizio Ciaccia, vice president EMEA

Octopus Energy Generation
Formed a joint venture with Milan-based Nexta Capital Partners in December last year to develop up to 1.5GW of commercial-scale battery storage systems across several projects largely in the south of Italy.

Key figure: Zoisa North-Bond, CEO

Pacific Green
Pacific Green last year acquired 51 per cent of the shares in five Italian energy storage projects from Sphera Energy Srl. The remaining 49 per cent of the shares of each Project will be acquired on achievement of certain development milestones. Final permitting for all five projects is anticipated in Q4 2024. The projects will begin their 35-year operating life in late 2025.
Key figure: Scott Poulter, CEO

Penso Power
Has entered a joint venture partnership with ACL Energy and BW ESS and will be developing three Italian projects with a total capacity of 395MW in Lombardia, Puglia and Piemonte.
Key figure: Richard Thwaites, CEO

Redelfi
Redelfi last year signed a term sheet with Flash, part of investment fund WRM Group, for the formation of a joint venture focussed on the development of up to 2.8GW of standalone battery energy storage systems (BESS) in Italy over a period of three-years.
Key figure: Davide Sommariva, chairman of the board of directors

Storaltil
The battery storage developer formed a joint venture with Cubico Sustainable Investments earlier this month – the duo plan to develop more than 1GW of battery energy storage system projects in Italy.
Key figure: Alfio Vergani, technical director

SUSI Partners
In November last year, SUSI Partners, through its Energy Transition Fund, expanded the remit of its Italian solar PV platform – ReFeel New Energy – to develop utility-scale battery energy storage systems.
Key figure: Marco Van Daele, CEO

Telis Energy
It was announced this week that Telis Energy, a pan-European renewable energy development platform, had launched its Italian subsidiary Telis Energy Italy, “targeting a 3GW pipeline of battery energy and hybrid projects” by 2030.
Key figure: Marco Petrone, CEO of Telis Energy Italy      

 

GERMANY

Altech Batteries
Last year, it emerged that Altech is producing two prototypes of a 60kwh ‘table salt’ battery pack at a facility in Hermsdorf, Germany.
Key figure: Dr. Jingyuan Liu, chief technology officer

Corre Energy
Last month, Corre Energy signed an agreement for offtake, co-development and co-investment with Eneco for Corre Energy’s first compressed air energy storage (CAES) project in Ahaus, Germany. Phase one of the Ahaus project will use the first two of the site’s four existing salt caverns to deploy Corre Energy’s multiday CAES solution to deliver 220MW of compression capacity and 320MW of generation capacity.
Key figure: Keith McGrane, CEO

ECO STOR
Norway-headquartered ECO STOR is to build a 600MWh battery storage facility in Saxony-Anhalt in Germany at a cost of around €250 million. The project – which is expected to be completed in 2025 – will be able to supply more than 31,000 households with electricity for 24 hours. This week it was revealed that renewable energy developer X-ELIO and private equity firm Nature Infrastructure Capital had formed a strategic partnership with Å Energi Invest, the corporate venture arm of Norwegian utility Å ENERGI, to invest in ECO STOR.

Key figure: Trygve Burchardt, CEO

ESS
Long-duration iron flow battery energy storage system manufacturer ESS and German energy provider LEAG last year entered into an agreement to build a 50 MW / 500 MWh iron flow battery system at the Boxberg Power Plant site in Saxony, Eastern Germany, to be commissioned in 2027.
Key figure: Eric Dresselhuys, CEO

Fluence
Last July Fluence signed a deal with transmission grid operator TenneT for the development of two ‘Grid Boosters’ – battery-based energy storage systems – with a combined power capacity of 200 MW at the German substations in Audorf Süd in Schleswig-Holstein and Ottenhofen in Bavaria.
Key figure: Roman Loosen, chief business operations and transformation officer

General Electric
Part owner of the Adele – Compressed Air Energy Storage System, a 200,000kW compressed air storage energy storage project located in Stasfurt, Saxony-Anhalt, Germany. The rated storage capacity of the project is 1,000,000kWh.
Key figure: Lawrence Culp, CEO

Kraftblock
In November last year, it was announced that German high-temperature energy storage system company Kraftblock had raised €20 million in a Series B financing round. Investors included Shell Ventures, Finindus, Moore Strategic Ventures, A&G Energy Transition Tech Fund, TechEnergy Ventures, and Future Industry Ventures.

Key figure: Martin Schichtel, CEO

Kyon Energy
Earlier this year, TotalEnergies agreed a €90 million deal to acquire the entire share capital of Germany-headquartered battery storage system developer Kyon Energy from the company’s three founders. This month it was revealed that Kyon had received approval for a 50MW / 116MWh battery storage facility in Rhineland-Palatinate. In November last year, Kyon received approval for a large-scale battery storage project in Alfeld (Leine), Lower Saxony – the 137.5MW / 275MWh facility was the “largest approved storage project in Europe to date”, a Kyon Energy statement said at the time.
Key figure: Florian Antwerpen, managing director

LEAG
Last year, German energy provider LEAG entered into an agreement with long-duration iron flow battery energy storage system manufacturer ESS to build a a 50 MW / 500 MWh iron flow battery system at the Boxberg Power Plant site in Saxony, Germany.
Key figure: Thorsten Kramer, CEO

Malta Inc
US long-duration energy storage company Malta Inc’s German subsidiary was last year awarded a German federal government grant to support a €9 million project to accelerate the country’s energy transition.
Key figure: Ramya Swaminathan, CEO

MW Storage
Last week, it was announced that Swiss storage investment fund MW Storage had selected Fluence Energy to deliver “one of the largest battery-based energy storage projects in continental Europe”, a 100 MW/ 200 MWh storage system located in Arzberg, Wunsiedel district, near the German–Czech border.
Key figure: Wilfried Karl, CEO at MW Storage

Obton
In December last year, Danish solar PV systems operator Obton acquired German storage projects with a total storage capacity of 194.7MW from Germany-based battery storage developer Kyon Energy.
Key figure: Torsten Lauritsen, head of energy storage

Patrizia
In December last year, asset manager Patrizia finalised a €210 million refinancing to support the development of its Etzel energy storage facility in northern Germany.
Key figure: Heiko Süß, head of fund management Frankfurt

Reichmuth Infrastructure
Swiss asset management company Reichmuth Infrastructure has signed a contract for the construction of a 100 MW / 200MWh battery storage plant in Arzberg, Germany.
Key figure: Stefan Hasenböhler, head infrastructure

RWE
Part owner of the Adele – Compressed Air Energy Storage System, a 200MW compressed air storage energy storage project located in Stasfurt, Saxony-Anhalt, Germany. The rated storage capacity of the project is 1GW.
Key figure: Dr. Markus Krebber, CEO

Shell Germany
Shell Germany and the Volkswagen Group last year put into operation a 150kW Elli Flexpole charging station, an innovative battery storage system that enables connection to a low voltage grid at a Shell service station in Goettingen, Germany.
Key figure: Felix Faber, managing director

Siemens Smart Infrastructure
Owner of the Wunsiedel Battery Energy Storage System, a 100MW / 200MWh lithium-ion battery energy storage project located in Wunsiedel, Bavaria, Germany.
Key figure: Carl Ennis, chief executive

Tion Renewables
Germany-headquartered Tion Renewables has acquired a 10MW / 13MWh lithium-ion battery energy storage system (BESS) in Thuringia, Germany. The project, which is connected directly to the electricity grid, is currently under construction and is expected to become operational in the second half of 2024.
Key figure: Dr. Martin Siddiqui & Christoph Strasser, co-CEOs

TotalEnergies
Last month TotalEnergies agreed a €90 million deal to acquire the entire share capital of Germany-headquartered battery storage system developer Kyon Energy from the company’s three founders.
Key figure: Stéphane Michel, president gas, renewables & power

Uniper
Uniper owns the Kraftwerk Huntorf – Compressed Air Energy Storage System, a 321MW compressed air storage energy storage project located in Grose Hellmer 1E, Lower Saxony, Germany.
Key figure: Michael Lewis, CEO

Volkswagen Group
Volkswagen Group, in partnership with Shell Germany, last year put into operation a 150 kW Elli Flexpole charging station – a battery storage system that enables connection to a low voltage grid – at a Shell service station in Goettingen, Germany
Key figure: Oliver Blume, CEO

X-ELIO
This week it was revealed that renewable energy developer X-ELIO and private equity firm Nature Infrastructure Capital had formed a partnership with Å Energi Invest, the corporate venture arm of Norwegian utility Å ENERGI, to invest in ECO STOR, a utility-scale battery energy storage system developer in Germany.
Key figure: Lluís Noguera, CEO

 

SPAIN

Ecoener
In October last year, it was announced that Econer had been awarded €6.9 million in NextGenerationEU funding for energy storage in Spain’s Canary Islands.
Key figure: Luis de Valdivia, chairman

Iberdrola
It was revealed earlier this year that Iberdrola is to install six new battery storage systems in Spain with a total capacity of 150MW. The projects will be built in Castilla y León, Extremadura (two batteries), Castilla La Mancha (two batteries) and Andalusia, and each battery will have 25 MW of power and a capacity of 50 MWh.
Key figure: Ignacio Sánchez Galán, executive chairman

Naturgy
Naturgy is to invest €117m in 145MW of energy storage in Spain. The investment will include seven 20MW storage projects co-located with solar in the provinces of Toledo, Ciudad Real and Almeria, and one 5MW standalone storage project in Vigo in Pontevedra. The total storage capacity of the eight projects will amount to 10.1GWh per year, equivalent to the consumption of more than 29,000 homes for two hours.

Key figure: Francisco Reynés Massanet, CEO

Malta Inc
Malta Iberia, a European affiliate of Malta Inc, has been granted an Innovation Fund Project Development Assistance Agreement by the European Commission and the European Investment Bank to pursue a 100MW energy storage facility in Spain.
Key figure: Ramya Swaminathan, CEO

Soto Solar
Owner of the Erasmo Solar PV park – Battery Energy Storage System, a 80MW lithium-ion battery energy storage project located in Saceruela, Castile-La Mancha, Spain.
Key figure: Bas Dekker, CEO

 

FRANCE

Neoen
The French independent power producer awarded Saft a contract to deliver a 8MW/8MWh ESS project in Antugnac in southern France.
Key figure: Guillaume Decaen, Neoen French development director

Nidec
Developer of the RINGO Project-Vingeanne – Battery Energy Storage System, a 12MW lithium-ion battery energy storage project located in Vingeanne site, France. The rated storage capacity of the project is 37MWh.
Key figure: Dominique Llonch, CEO of Nidec ASI

Q Energy
Last year, Q ENERGY announced the start of construction  of the 35MW / 44MWh ‘Merbette’ energy storage project on the Emile Huchet power plant site in the French town of Saint-Avold.

Key figure: Sang Chull Chung, CEO

Saft
Saft was awarded a “major contract” by Neoen, the French independent producer of renewable energy, to deliver a turnkey 8MW/8MWh ESS project in Antugnac in southern France.
Key figure: Hervé Amossé, executive vice president for energy storage solutions

TotalEnergies
The company deployed a 61MWh Saft lithium-ion battery energy storage system at Dunkirk, Northern France in a frequency response project that has served as a model for other sites.
Key figure: Vincent Stoquart, senior vice president renewables

 

IRELAND

Bord Gáis Energy
Bord Gáis Energy, part of Centrica plc, has joined ESB and dCarbonX in the development of the Kestrel Project, which involves the redevelopment of decommissioned gas reservoirs in the offshore Kinsale area in County Cork to include ‘large-scale’ energy storage, as well as potentially hydrogen storage.
Key figure: Dave Kirwan, managing director

dCarbonX
Involved in the development of the Kestrel Project, which involves the installation of energy storage on the site of decommissioned reservoirs in the offshore Kinsale area in County Cork.
Key figure: Tony O’Reilly, CEO

ESB
A joint developer – in partnership with Bord Gáis Energy and dCarbonX – of the Kestrel Project, which involves the installation of energy storage on the site of decommissioned reservoirs in the offshore Kinsale area.
Key figure: Jim Dollard, ESB executive director, generation and trading

Fluence
Supplier of the first four-hour 20MW grid-scale battery energy storage system in Co. Offaly, which is being built by Statkraft.

Key figure: Brian Perusse, managing director of Fluence Energy Ireland

Siemens Energy
Announced it will deliver the first-ever hybrid grid stabilisation and large-scale battery storage plant at Shannonbridge in Ireland. The €85 million plant will include a 160MWh battery storage facility.
Key figure: Tim Holt, member of the managing board

Statkraft
Statkraft is to build Ireland’s first four-hour grid-scale battery energy storage system in Co. Offaly. The 20MW BESS, supplied by Fluence, will be co-located with Statkraft’s 55.8MW Cushaling Wind Farm.
Key figure: Kevin O’Donovan, managing director of Statkraft Ireland

 

  • Energy Storage Report welcomes feedback on content – contact editor Ben Cook at ben.cook@tamarindo.global