Emeren Group announced its partnership with Matrix Renewables, a global renewable energy platform, to develop up to 1.5 GW of a portfolio of Battery Energy Storage Systems (BESS) in Italy.
The first portfolio of projects delivered and accepted by Matrix includes over 260 MW of standalone BESS projects.
Gravel, a joint venture of Emeren, Enerpoint, and Kaizen Invest Holding, will join hands with Matrix Renewables to leverage their expertise in the renewable energy sector. The DSA structure consists of a series of non-refundable payments that Matrix will grant to Emeren for every onboarded project in the framework of the agreement as well as for the achievement of each development target.
Italian electricity transmission system operator, Terna, is expected to open a capacity market auction in late 2023 to boost the solar storage output. This incentive scheme aims at structuring a more efficient deployment of the increasing renewable energy production and supporting investments in the storage technology.