Copenhagen Infrastructure Partners (CIP) has entered into a partnership with GC Storage Services (GCSS) for a 2.3 GW pipeline of large-scale battery energy storage system (BESS) projects in Italy. This partnership was formed using CIP’s flagship fund CI V.
Furthermore, these projects are located across Northern and Southern Italy, with the first project anticipated to be ready-to-build in 2025. The supportive regulatory policies of Italy allow CIP to utilise its expertise to deliver such large infrastructure projects in the country. Additionally, the business case for this pipeline is facilitated by the long-term contracted revenue offered by the Capacity Market and the MACSE auctions to be held in the South.
Earlier in October 2024, CIP, through its Growth Markets Fund II (CI GMF II), made a final investment decision on a 220 MW/1,100 MWh BESS located in the Antofagasta Region of northern Chile. The project is in the construction phase and is one of the earliest projects of its kind to move to this stage.
REGlobal’s Views: BESS is becoming an important area of investment for CIP and the company has announced BESS projects across various countries including the UK, US, Chile, and Australia. This recent announcement in Italy marks CIP’s foray in the continental Europe where increasing renewable energy penetration in certain markets has made BESS a critical component of the value chain.
