Altea Green Power has received approval from Italy’s Ministry of the Environment and Energy Security (MASE) for its 200 MW electrochemical storage (BESS) project in Genzano di Lucania, Basilicata.
This project is part of an agreement with Aer Soléir, a leading Irish energy group, signed in July 2022 to develop three plants on sites transferred from AGP.
The Genzano di Lucania project, part of AGP's industrial plan, consists of two 100 MW sections and will connect to the future expansion of the Tera National Transmission Grid.
Authorized in just 21 months, the project has a total value exceeding €17.5 million and is expected to generate €8.6 million in 2024 and €8.9 million in 2025, with up to €13 million in cash flows over the next 15-18 months.
Additionally, Altea Green Power has a pipeline of BESS Storage projects in Italy, with a total capacity of 2.94 GW under advanced development and available for sale.
Aer Soléir, based in Dublin, specializes in multi-technology renewable energy projects, including wind, solar, and energy storage. The company has secured a $250 million funding commitment from 547 Energy, a U.S.-based investment platform affiliated with Quantum Energy Partners, a private capital provider with over $17 billion in assets under management.
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