Sosteneo buys 49% stake in Enel’s BESS in Italy

Enel Libra Flexsys was established for the development and management of a major portfolio of energy transition infrastructure in Italy, composed of 23 battery energy storage system (BESS) projects with a total capacity of 1.7GW and 3 Open-Cycle Gas Turbine (OCGT) projects with a total capacity of 0.9GW.

Revenues for the project are fully contracted for 15 years through capacity agreements with Enel as well as capacity payments from Enel that are backed by Terna, Italy’s transmission system operator.

“This partnership with Enel represents a major investment in critical new infrastructure for the energy transition in Italy and is a landmark transaction on behalf of Sosteneo’s clients. The BESS and OCGT projects will provide flexibility and strength to the grid that is vital for the integration of more renewable generation into Italy’s energy system.” Commented Umberto Tamburrino, Managing Partner at Sosteneo.