1.5GW Italian Battery Storage: Octopus & Nexta Power Up

• Octopus Energy and Nexta Capital Partners join forces for a new joint venture in Italy's energy storage market. The venture is expected to develop up to 1.5GW of energy storage systems, helping the country achieve its decarbonisation goals by 2030. Octopus Energy is also investing €1bn into the venture.

Octopus Energy and Nexta Capital Partners have announced the creation of a joint venture in the Italian energy storage market. The JV is set to develop up to 1.5GW of commercial scale battery storage systems across multiple projects, mainly in the south of the country. This will help Italy meet its decarbonisation goals, with the aim of having 65% of the country's electricity from green energy by 2030. Octopus Energy has also committed to investing €1bn in Italy by 2030. The agreement builds on the existing partnership between Octopus Energy Development Partnership and Nexta to develop wind and solar farms in Italy.

What Goals Does Octopus Energy's JV Set for Italy?

• The joint venture aims to develop 1.5GW of commercial scale battery storage systems across multiple projects, mainly in the south of the country.
• The JV will support the Italian government's decarbonisation goals, helping the country to achieve 65% of electricity from green energy by 2030.
• The joint venture will deliver clean, reliable, and cost-effective energy solutions that will benefit both Italy and the environment.
• Octopus Energy has committed to investing €1bn in Italy by 2030, showing its commitment to the Green Deal and helping Italy move towards a carbon-neutral future.
• The joint venture will help to establish a strong and diverse energy storage system in Italy, increasing resilience and providing more choice for customers.