Eku Energy Secures 1GW Italian Battery Deal

• Eku Energy and Renera Energy have signed an agreement granting 1GW of battery project rights to Eku Energy in Italy. The agreement will help Italy reach its 2030 renewable energy target of 65%. Eku and Renera will collaborate to deliver secure and reliable energy storage solutions. Italy is expected to become the 3rd largest energy storage market by 2030.

Energy storage developer Eku Energy has signed an exclusive framework agreement with Italian project developer Renera Energy, giving them rights to 1GW of battery projects in Italy. The agreement will see Eku Energy fund projects with a combined capacity of over 100MW in the south of Italy and help the country meet its goal of generating 65% of its electricity from renewable sources by 2030. Both companies will collaborate to deliver secure and reliable energy storage solutions that drive the country's clean energy transition. It is predicted that Italy will become the third-largest energy storage market in Europe by 2030.

Will Italy Reach its Renewable Energy Goal?

• Italy has set a target of 65% of its electricity to be generated from renewable sources by 2030 and this agreement between Eku Energy and Renera Energy will be a huge step towards reaching that goal.
• The agreement will see Eku Energy fund projects with a combined capacity of over 100MW in the south of Italy, providing reliable energy storage solutions that will drive the country's clean energy transition.
• Italy's energy storage industry is expected to grow exponentially in the coming years with the government offering incentives to companies that are investing in renewable energy projects.
• The Italian government is also planning to invest in research and development projects in order to further increase the penetration of renewable energy sources in the country.
• The energy storage industry in Italy is expected to be worth €2.3 billion by 2030, making it the third-largest energy storage market in Europe.
• International companies are beginning to invest in Italy’s energy storage sector, which is predicted to help the country reach its goal of 65% renewable energy by 2030.