Emeren (SOL) Signs an Agreement to Develop Battery Energy Storage Systems in Italy
Emeren Group Ltd (“Emeren” or the “Company”) (www.emeren.com) (SOL), a leading worldwide solar task designer, owner, and operator, today revealed its partnership with Matrix Renewables (“Matrix”), the TPG Rise-backed worldwide renewable resource platform. The collaboration intends to perform a proprietary Development Service Agreement (DSA) for the advancement of as much as 1.5 GW of a portfolio of Battery Energy Storage Systems (BESS) in
Under this DSA, Gravel A S.r.l., a joint endeavor including Emeren Limited, a subsidiary of Emeren Group Ltd, Enerpoint S.r.l., and Kaizen Invest Holding S.r.l., will sign up with forces with Matrix Renewables to take advantage of their cumulative proficiency in the renewable resource sector. The DSA structure includes a series of non-refundable payments that Matrix will approve to Emeren for every single onboarded task in the structure of the contract in addition to for the accomplishment of each advancement target.
This brand-new partnership is of high tactical significance as the Italian electrical power transmission system operator, Terna S.p.A., is anticipated to open a brand-new capability market auction in late 2023 to increase the solar storage output in the nation. This reward plan targets at structuring a more effective implementation of the increasing renewable resource production and supporting financial investments in the storage innovation.