Emeren Group, a US renewable energy producer, sold Matrix Renewables two battery energy storage systems (BESS) in Italy with a combined capacity of 293 MW. The transaction is part of the June 2023 DSA Emeren and Matrix agreement for the expansion of the BESS portfolio by 1.5 GW. The two projects are in Apulia and Lazio, respectively.
Reportedly, the projects include advanced storage systems with a combined capacity of 293 MW. The discharge duration of each of the projects ranges between four and eight hours. They are expected to reach ready-to-build status by early 2025. Under the DSA, a new joint venture (JV) known as Gravel A was formed, consisting of Emeren’s subsidiary, Enerpoint, and Kaizen Invest. The JV is working with Matrix to use its collective expertise in the renewable energy sector. The DSA also includes non-refundable payments that Emeren will receive from Matrix for each project that is onboarded into the framework and for meeting all development targets.
In September 2022, Matrix Renewables purchased a 4.6 GW portfolio of utility-scale solar energy projects spread across the central US. For an undisclosed sum, the company bought the portfolio from SolarStone, a US-based provider of solar energy.
