Enfinity Global, a US-based renewable energy company, has reached an equity and development agreement with a European investor to complete a 486MW battery energy storage system (BESS) in Italy.
Situated in the Emilia Romagna region, the installation has a storage capacity of 1,944MWh and a four-hour discharge duration.
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Under the terms of the deal, Enfinity Global will remain responsible for the permitting process and the project’s development activities.
Enfinity Global’s pipeline in Italy is reported to include 2.6GW of solar photovoltaic (PV) and 5.3GW of energy storage projects.
Of that capacity, 245MW is already in operation and a further 564MW is under construction.
The company said the agreement forms part of its capital formation plans and will support the deployment of energy infrastructure in the country.
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By GlobalDataEnfinity Global Europe general manager Julio Fournier Fisas said: “This strategic equity and development partnership underscores the exceptional quality of our geographically diversified portfolio in Italy and highlights our proven execution capabilities.
“Together with our partners, we are accelerating the deployment of critical infrastructure that will enable Italy to achieve its climate goals while fostering economic growth.”
Last month, Enfinity secured €316m ($368m), reaching financial close on a portfolio of eight utility-scale solar power projects across Italy.
The funding was arranged as a club deal, with ING, Rabobank, and BNP Paribas appointed as mandated lead arrangers, lenders, original hedging counterparties, and coordinators for the green loan.
The financing comprised €214m of nonrecourse senior debt and a further €101m that was earmarked for VAT, letters of credit covering power purchase agreements, PV modules, and decommissioning costs.
The projects, located in Emilia-Romagna, Basilicata, and Lazio, will collectively generate 276MW. The solar facilities are expected to come online by the end of 2026.
