Cubico Sustainable Investments, one of the world’s largest privately owned renewable-energy companies, has made its foray into the battery energy storage system (BESS) market in Italy through a new joint venture with Storaltil, a prominent Italian battery storage developer and consultancy.
The partnership aims to develop more than 1 gigawatt of BESS projects, encompassing four projects in its initial phase. This incorporates two contributions from Cubico with a combined capacity exceeding 150 megawatts.
Cubico said the decision to form the strategic partnership comes at a pivotal time for the Italian renewables market, given the urgent need for enhanced utility-scale electricity storage capacity in Italy. A recent study conducted by grid operator Terna revealed the country requires nearly 71 gigawatt-hours of new battery storage by 2030 to meet the European Union’s ambitious target of reducing greenhouse gas emissions by at least 55 percent.
The JV is strate