ENERGY STORAGE

Nuveen & Exus agree to co-develop 800MW of Italian battery storage

April 9, 2024

Clean energy fund manager Nuveen Infrastructure – formerly known as Glennmont Partners – and asset management and development firm Exus Renewables have agreed a deal to to co-develop around 800MW of battery storage projects in southern Italy, with each company co-developing a portfolio of around 400MW of projects.

Nuveen Infrastructure and Exus will begin work on a series of standalone battery energy storage system (BESS) projects across the Puglia region of Italy. Each party will develop four projects with a total capacity of around 100MW.

Construction on the first projects in the portfolio is expected to begin in Q4 2026.

Francesco Cacciabue, global head of clean energy investments at Nuveen Infrastructure, said: “As Italy continues its renewable energy transition, battery technology stands to play a hugely important role in supporting established clean energy generators, through its ability to manage intermittency issues and associated price fluctuations. The quality of existing battery storage technologies means they are now capable of fulfilling this role, and they will be a critical enabler as Italy and Europe look to meet their clean energy targets.”

Natalia Ordoñez, head of EU development & construction at Exus, added: “Our meticulous approach to developing these projects, with land rights secured and grid interconnection ensured, is part of our broader vision to establish a robust pipeline of BESS across Europe.”