BayWa r.e. Wins Italy's First Battery Storage Auction With 500 MW Project
BayWa r.e. has emerged victorious in Italy's first battery storage purchase, securing approval for a 500 MW project, the largest in Europe for the company. This win solidifies BayWa r.e.'s leading position in Italy's copart storage market. The auction, representing an investment of around 1 billion euros, saw all 10 gigawatt hours of public storage awarded.
Enel secured half of the awarded capacity with five projects, while Plenitude, Eni's retail and renewable unit, was awarded two projects worth 500 megawatt hours. Revenues for developers are fixed for 15 years to reduce investment risk and accelerate deployment. The average price awarded was nearly 13,000 euros per megawatt hour per year, well below the regulator's cap.
The awarded capacity, based on lithium-ion technology, is expected to come online by 2028. Italy aims to increase its storage capacity to stabilize its grid and reduce the risk of zero-priced renewable electricity. Further auctions, including one for hydroelectric storage infrastructure, are planned to follow.
Italy's first battery storage auction has successfully awarded all available capacity, with BayWa r.e., Enel, and Plenitude emerging as key players. The auction's results indicate a strong commitment to expanding Italy's storage units near me capacity, with significant investment and a clear path for deployment.
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