NHOA Energy has launched construction on a battery energy storage system (BESS) project for independent power producer (IPP) ERG in Sicily, Italy.

Taiwan Cement Corporation’s buyout of NHOA is a “reconfirmation of strategic financial support” from the majority shareholder, Energy-Storage.news has heard.   

Finding developers who want long-term partnerships on projects is key when entering multiple different markets, the head of shipping and energy infrastructure firm BW Group’s energy storage development and operation arm says.

G7 nations have agreed a new global energy storage target of 1500GW by 2030, a six-fold increase from today’s levels.

Developer Enerside Energy has sold a project combining agrivoltaics (agriPV) and a battery energy storage system (BESS) in Italy to Chint Solar.

Europe has seen its first year when energy storage deployments by power capacity exceeded 10GW in 2023.

Investor NextEnergy Capital has received a US$110 million capital commitment for its solar PV and energy storage-focused fund, NextPower V ESG (NPV ESG).

Utility and IPP Enel has sold a 49% stake in its subsidiary that will own and operate 1.7GW of battery energy storage system (BESS) projects in Italy, to investor Sosteneo.

Italy grid-scale energy storage market opportunities unlike anywhere else, but many challenges and uncertainties around the different revenue streams remain, including the upcoming MACSE capacity market auction.

Italy-headquartered energy storage solutions provider NHOA Energy grew revenues 33% in 2023 despite a 20% industry-wide drop in prices, it said in its full-year results.