ContourGlobal, a renewable energy power generation and a subsidiary of KKR, announced the acquisition of battery energy storage projects totaling 1.6 GW with up to eight hours of storage duration, located in Italy.
This acquisition strategically positions ContourGlobal ahead of the upcoming Italian Storage Capacity Procurement Mechanism (MACSE) auctions, which are scheduled to begin in September.
The recent acquisitions in the Italian portfolio are structured across two separate transactions. ContourGlobal has an agreement with a renewable energy project developer based in Italy, covering approximately 1.5 GW of storage projects at various stages of maturity. This also includes an early-stage tranche and a more advanced tranche, each with 750 MW capacity.
The more advanced tranche comprises three projects totaling 260 MW in Southern Italy that are in an advanced permitting stage of development, eligible for the first MACSE auction in September. These projects feature battery storage systems with a duration between four and eight hours.
The entire portfolio, estimated to reach nearly 9.5 GWh of capacity, is scheduled for commissioning in 2028.
The company has over 100 MW of operational solar projects across 14 regions of Italy. Additionally, the company has 3 GWh of energy storage projects in operation or under advanced construction in various countries, including Chile and Bulgaria.
“With these acquisitions in Italy—potentially to be expanded by other deals—we are building a pipeline of projects for 10 GWh of storage capacity. This is a clear demonstration of ContourGlobal’s continued commitment to investing in the sustainable transformation of the Italian electricity system. Developing storage systems in the country supports the gradual move away from fossil fuels, strengthens grid resilience, and enables the energy transition at a national scale,” said Antonio Cammisecra, President and CEO of ContourGlobal.
In January, the company also announced the acquisition of a solar project portfolio totaling 446 MWp from Qcells, a solar cell manufacturer and project developer. The portfolio is comprised of two projects in Colorado and Virginia.
According to Mercom’s Q1 2025 Funding and M&A Report for Energy Storage, 15 energy storage projects were acquired in Q1 2025, compared to six project M&A transactions in Q1 2024.
