Italy's First Battery Storage Auction Secures 10GWh, Enel Wins Half
Italy's first battery storage auction has concluded successfully, with Enel securing half of the awarded capacity through five projects. The tender, representing an investment of around 1 billion euros, saw all 10 gigawatt hours of capacity awarded, marking a significant step towards Italy's goal of increasing its storage capacity.
Enel's victory in the auction is notable, with the company securing projects worth nearly 13,000 euros per megawatt hour per year on average. Plenitude, Eni's retail and renewable unit, also participated, winning two projects worth 500 megawatt hours each. The average price awarded was well below the cap set by the regulator, indicating strong competition.
The awarded capacity, based on lithium-ion technology, is expected to come online by 2028. This will help Italy stabilize its grid and reduce the risk of zero-priced renewable electricity. Revenues to developers are fixed for a 15-year period to reduce investment risk and accelerate deployment. Other companies that participated alongside Enel include Terna, CESI, and BlueFloat Energy.
Italy's first battery storage auction has successfully awarded all available capacity, with Enel and Plenitude leading the way. The projects, set to come online by 2028, will help Italy achieve its storage capacity goals and stabilize its grid. Further auctions, including one specifically for hydroelectric storage infrastructure, are expected to follow.
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