Enfinity Global Partners with Strioga Family Foundation on 150 MW Energy Storage Project in Italy
Enfinity Global and Strioga Family Foundation have partnered to advance a 150 MW battery energy storage project in Livorno, Tuscany. Enfinity will retain majority control.
Enfinity Global, a renewable energy company, has announced a strategic partnership with E Energy Invest, the investment arm of the Strioga Family Foundation. The agreement will see the Strioga Family Foundation acquire a 49.9% stake in a 150 MW battery energy storage system (BESS) project located in the province of Livorno, Tuscany.
Enfinity Global will retain a 50.1% controlling interest and will be responsible for completing the remaining development and construction work, as well as acting as the long-term asset manager. The 150 MW project, featuring a 4-hour duration and 600 MWh capacity, is part of Enfinity Global's 6.7 GW BESS portfolio in Italy. This development aims to enhance grid flexibility and support greater integration of renewable energy sources.
"We have actively sought partnerships with Europe's leading renewable energy platforms and are thrilled to collaborate with Italian market expert Enfinity Global on this BESS project," said Gediminas Uloza, CEO of the Strioga Family Foundation. "This marks our fourth and largest investment to date in the development of battery energy storage systems (BESS), bringing the Foundation's commitment to European BESS projects to well over 2.5 GWh."
Carlos Domenech, CEO of Enfinity Global, stated, "We are excited to welcome the Strioga Family Foundation as a strategic partner on this project. This collaboration highlights Enfinity Global's ability to connect long-term capital with the energy transition needed in Europe, leveraging its integrated energy platform to build critical storage infrastructure."
The transaction signifies the Strioga Family Foundation's entry into the Italian energy market. Enfinity Global has previously secured capital partners for portfolios exceeding 1.1 GW, employing a strategy that involves bringing in minority shareholders to recycle capital for developing further power capacity in Italy and bolstering the resilience of the Italian electricity grid.