Eku Energy Secures Exclusive Rights for 1 GW Battery Storage Projects in Italy

The energy storage developer Eku Energy has signed a Framework Agreement with Renera Energy, a European consulting, trading and development group, securing the former exclusivity over 1 GW of battery storage projects in Italy.

As part of the agreement, Eku Energy is already funding projects with a combined capacity of over 100 MW in the South of Italy. The region has high levels of renewable penetration and an increasingly congested grid.

Italy aims to generate 65 per cent of its electricity from renewable energy sources by 2030. On achieving this feat, the country is predicted to be the third-largest energy storage market in Europe.

CEO of Eku Energy Sandra Grauers Nilsson said, “Italy is a key market for Eku Energy as we continue our global expansion.” She further added, “By combining our deep global expertise in energy markets with Renera’s specialist local knowledge we will deliver safe, secure and reliable energy storage solutions that advance Italy’s clean energy transition.”

Lars Konersmann, the CEO of Renera Energy, emphasised the role of battery storage for renewable energy production. He added, “Combining it with our Solar Power Plant pipeline we are moving Italy an important step ahead on the way to a completely renewable energy supply.”

Last month, Eku Energy and project partners ENGIE and Fluence commissioned the 150 MW/150 MWh Hazelwood Battery Energy Storage System (BESS), Australia’s largest privately funded utility-scale battery. The Hazelwood battery can store the equivalent of an hour of energy generated from the rooftop solar systems of 30,000 homes. The energy storage provider also partnered with the ACT government to deliver the next stage of the Big Canberra Battery with a large-scale battery storage facility in Williamsdale.

Eku Energy was initially established by Macquarie’s Green Investment Group and is now jointly owned by a Macquarie Asset Management managed fund and British Columbia Investment Management Corporation (BCI). The company is working across the full project life cycle to develop, build, and manage energy storage assets that facilitate the delivery of safe, secure and reliable clean energy. Its pipeline includes 1.2 GWh of battery storage projects in delivery globally.

Renera Energy is a European group of companies headquartered in Basel, Switzerland. The main activities include development, trading and consulting in the field of renewable energies and energy efficiency.