Greenvolt Group, making its debut in Italy’s first battery storage auction, hit a home run by landing a massive project. This recognition represents an incredible accomplishment for the company and the energy industry as a whole. The project, sited near South and Calabria, has a staggering projected capacity of 75MW/600MWh. If successful, this initiative promises to be one of Europe’s largest long-duration storage projects. We expect to be in revenue service by 2028.
The auction—the third undertaken under the Electric Storage Procurement Mechanism (MACSE)—highlighted the extremely competitive environment. Demand immediately skyrocketed, outpacing supply by over four times. Only three developers were able to get the max allocation from hundreds of applications. This result is a testament to how truly competitive this endeavor was. The MACSE auction successfully awarded a massive 10GWh of storage capacity. This is off the back of a mind-boggling 40GW of submissions, reflecting the surging interest and investment into energy storage technologies.
Competitive Landscape
Greenvolt’s successful bid comes as part of a broader strategy to enhance system flexibility and promote the decarbonization of Italy’s power sector. The MACSE initiative consists of three different auctions spread out over several years, culminating in 2028. These auctions are intended to increase production capacity to 70GWh by 2030. João Manso Neto, CEO of Greenvolt Group, said he was pleased with the result. He repeatedly underlined the importance of battery technology in ramping up the growth of renewable energy.
“We are very pleased with the outcome of the Italian auction, achieved in a highly competitive context. Batteries, a sector in which Greenvolt is one of the leading European players, are fundamental to ensuring grid stability at a time of strong expansion of renewable energy. At the same time, this 15-year contract represents a clear reinforcement of our operations in the Italian market.” – Greenvolt Group CEO João Manso Neto
The choice to invest in a long length Li-ion battery system will be a significant step forward for Greenvolt. This technology will be key to ensuring breakthroughs to our energy storage challenges while providing reliability between all sectors of the grid. As we accelerate a transition to renewable energy sources, the ability to store that energy in strong, reliable forms will be crucial—now more than ever.
Future Implications
The ramifications of this project reach far and wide beyond Greenvolt, affecting the future energy landscape of Italy as a whole. The $28 million project is boosting the region’s battery storage capacity. This advancement increases grid reliability and resilience while enabling more renewable energy resources to be woven into the national electric fabric. This is in line with the broader goals of the country to cut their carbon emissions and move towards more sustainable energy sources overall.
The MACSE auction highlights a significant shift in Italy’s approach to energy storage. It boosts ingenuity and lures venture capital into this important industry. Developers have provided a record-high response. This indicates their deep motivations to lead the way in energy storage technology while developing overall system flexibility across Europe.