Emeren Group and Matrix Renewables have partnered to develop a battery energy storage system in Italy, with a goal of developing up to 1.5 gigawatts of capacity. Emeren Group is a global solar project developer, owner, and operator, and Matrix Renewables is a global renewable energy platform.
The Role of Battery Energy Storage Systems
The partnership between Emeren Group and Matrix Renewables will focus on developing a substantial portfolio of standalone battery energy storage system (BESS) projects, with the first batch comprising more than 260 megawatts of capacity.
Italy’s upcoming capacity market auction is intended to enhance the storage output of solar energy in the country. With the upcoming auction, the partnership between these two companies is considered strategic. The capacity market auction aligns with the government’s vision to facilitate the efficient deployment of renewable energy production and encourage investments in storage technologies.
The Italian electricity transmission system operator is expected to launch the auction in late 2023.
Emeren Group’s Commitment to Solar Plus Storage Strategies
Yumin Liu, the CEO of Emeren Group, sees storage technologies as vital for the future of renewable energy and aims to position the company as a leader in this transformative market. The DSA structure-based transaction reinforces the standalone BESS pipeline in Italy, showcasing confidence in project development and early-stage monetization, the company said. The company’s focus remains on delivering sustainable solutions that address evolving energy needs and contributes to cleaner and more resilient energy uses.
A Growing Renewable Presence in Europe
Europe holds great significance for Emeren’s expansion plans, as it accounted for 73% of the company’s revenues in the first quarter of 2023. As of March 31, 2023, Emeren had an impressive pipeline of mid-to-late-stage projects totaling 2,272 MW in Europe. Additionally, the company operated 60 MW of independent power producer projects in the region.
With a focus on BESS, Emeren Group and Matrix Renewables are able to be strategic about storage technologies with the upcoming Italian capacity market auction.
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