Aer Soléir has achieved financial close for the Rondissone project, a 250MW battery energy storage system (BESS) with a four-hour duration, located in Piedmont, Italy.
The company’s flagship BESS project entails an investment of approximately €180m.
Located within the Italy Nord Power Zone, the facility will be the largest BESS project currently under construction in Italy.
A consortium comprising Bayern LB, Nord/LB, Siemens Financial Services through Siemens Bank, CIBC and ABN AMRO is providing the funding under a structure arranged by Centrus, which acted as debt and hedging adviser.
The senior debt facilities will cover up to 80% of capital expenditure and follow a 15-year amortisation schedule.
Aer Soléir stated that this represents the first transaction of its kind for a BESS asset in Italy.
Aer Soléir co-founder and CFO Manus O’Donnell said: “We are delighted to reach this closing milestone in collaboration with our banking partners.
“This market-leading project financing further strengthens Aer Soléir’s reputation as a best-in-class renewable energy IPP [independent power producer], and we are well positioned to continue expanding our footprint and supporting Europe’s accelerating energy transition.”
Rondissone forms part of Aer Soléir’s plan to invest €1.5bn in Italy over the next five years across 17 wind, solar and battery storage projects.
It secured a 15-year capacity market contract with the Italian Government in Q1 2025 at €47,000/MW per year.
Subsequently, in the third quarter of 2025, Aer Soléir entered into a seven-year fixed toll agreement for the BESS project with EGO Energy, a direct subsidiary of Shell Italia.
As per the terms of the agreement, EGO Energy will trade and operate the Rondissone project as part of its renewable energy portfolio. For this, Aer Soléir will receive fixed annual payments from EGO Energy.
Aer Soléir operates as an affiliate of 547 Energy, which is backed by Quantum Capital Group.
Quantum Capital Group is based in Houston and manages more than $32bn in equity commitments globally.
Aer Soléir focuses on sustainable infrastructure projects throughout Europe from early-stage development onwards.
