ENERGY STORAGE

GreenGo acquires 480MWh Italian BESS project

March 14, 2024

GreenGo has acquired 100% of the share capital of an unnamed company owning a project for the construction of a 120MW / 480MWh battery energy storage system (BESS) in the Province of Catanzaro in Calabria, Italy.

The deal increased the size of GreenGo’s portfolio to 400MW.

Lorenzo Nardon, head of finance and M&A at GreenGo, said: “With the new BESS plant in Calabria, we are strengthening our ability to integrate BESS standalone 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.”

Watson Farley Williams was legal adviser GreenGo on the acquisition, while REA was technical adviser.