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Cubico Sustainable Investments, a leading player in renewable energy, has forged a groundbreaking joint venture with Storaltil, a prominent Italian battery storage developer and consultancy, to pioneer over 1 GW of Battery Energy Storage System (BESS) projects in Italy. This strategic move marks Cubico’s entry into Italy’s burgeoning battery storage market, aiming to address the pressing need for increased utility-scale electricity storage capacity.
The joint venture will kick off with four projects, incorporating contributions from Cubico totaling over 150 MW. This alliance comes at a crucial juncture for Italy’s renewables sector, given the country’s imperative to ramp up battery storage capacity to meet the European Union’s ambitious emissions reduction targets. A recent study by grid operator Terna highlighted Italy’s requirement for nearly 71 GWh of new battery storage by 2030.
With Italy experiencing growing demand for storage solutions, the joint venture is strategically poised to tackle grid congestion challenges across various regions. Many of the projects are strategically located in these areas. Cubico’s extensive network and experience in project origination and development in Italy, coupled with Storaltil’s technical prowess, data analytics, and site optimization expertise, will be instrumental in driving the JV’s success.
Alessandro Asperti, Cubico’s Country Head for Italy, remarked, “Our partnership with Storaltil signifies a significant milestone as we venture into Italy’s dynamic BESS market. Together, we aim to address critical grid challenges and contribute to Italy’s clean energy objectives, aligning with broader European sustainability goals.”
A spokesperson for Storaltil SRL expressed enthusiasm about the collaboration, stating, “We are thrilled to partner with Cubico, a global leader in renewables investment, leveraging our technical know-how and local expertise to facilitate their entry into the emerging BESS market. Recognizing the pivotal role of battery storage in Italy’s energy transition, we are confident that our collaboration will cultivate a robust BESS pipeline and establish us as a key industry player.”
Leveraging an existing development pipeline of around 1 GW of Italian solar and wind projects, along with nearly 300 MW of operational projects, the joint venture not only fortifies Cubico’s in-country portfolio but also establishes a foothold in one of Italy’s fastest-growing clean energy sectors.
