Turin, 30th January 2022: Aer Soléir, a Dublin based, Irish Company focused on multi-technology renewable energy development, construction and operation with a particular emphasis on utility-scale onshore wind, solar, and energy storage projects throughout Europe and Altea Green Power S.p.A. an Italian Company based in Turin, involved in developing and building renewables plants in Italy and the USA, have today signed a Share Purchase Agreement and related co-development agreement to jointly develop ~500MW of battery storage projects in Italy.
The agreement, already operational and signed at Leading Law Office – Notary Andrea Ganelli in Turin, sees the construction of 4 plants: one in Gravina di Puglia, two in Genzano, also in Puglia and one in Rondissone in Piedmont. The sites, already available to Altea Green Power, were sold to Aer Soléir together with the development activities already carried out.
The projects will see the two companies working closely together, enabling Altea Green Power to enhance its position as an important service integrator and Aer Soléir to continue to expand its presence in Italy.
Italy has received the largest share of the EU’s pandemic recovery fund. Around a third of the sum received is earmarked for supporting energy and climate objectives. Recently Italy’s minister for energy transition, Roberto Cingolani, confirmed that he had set a minimum target of 70 per cent renewable electricity by 2030. In order to achieve that target, it will be necessary to develop large scale battery storage plants concurrently with renewable energy technologies.
Andy Kinsella, CEO and Founding Partner at Aer Soléir said: “The agreement signed with Altea Green Power, an experienced developer in the Italian renewables market, represents another major milestone in Aer Soléir’s Italy growth strategy and general technological diversification. Italy is a very attractive market and we are delighted to be adding this battery storage portfolio to our existing wind and solar portfolios in Italy.”
Giovanni Di Pascale, Founder and CEO of Altea Green Power, states: “We are very proud of the agreement concluded with Aer Solèir, an international company of absolute standing, which will bring added value to both companies. This partnership is a fundamental path for Altea Green Power in a sector so innovative and strategic such as the storage”.