Friday 15 December 2023

Octopus powers Italy with 1.5GW battery boost

Octopus Energy's generation arm has unveiled a joint venture with Nexta Capital Partners, to advance Italy's battery storage market.

The collaboration, based in Milan, will focus on the development of up to 1.5GW of commercial-scale battery storage systems.

The projects, concentrated primarily in the southern regions, hold the potential to store and release substantial electricity. 

Upon completion, the projects are anticipated to store enough electricity to power up to a million homes daily.

This aligns with Italy's broader objective of adding 9GW of new grid-scale energy storage and achieving a 65% share of green energy in the electricity mix by 2030.

Octopus Energy will explore the optimisation of the battery assets through its flexibility platform, Kraken, which currently manages 6GW of green energy assets.