BREAKING NEWS – 22.07.2024

In the press release dated July 18, 2024, Redelfi, the head of the eponymous industrial group based in Genoa engaged in the development of innovative and sustainable infrastructures to promote the energy transition, announced that through Renueva SpA, an Italian company directly controlled by Redelfi, it has formed a partnership with Infralab Srl to develop stand-alone Battery Energy Storage System (BESS) projects in Italy, by establishing the joint venture Ribess Srl, equally owned at 50.0%. The partnership aims to develop six already identified BESS projects, with a total power of 500 MW, within three years. These projects will be equally contributed by both partners, who will receive a performance fee at the end of the development of all projects, based on quantitative and qualitative criteria. The agreement has two main objectives: first, to increase Redelfi’s role as a developer in the Italian BESS market with the support of Infralab’s engineering expertise; secondly, to strengthen the collaboration with the partner Infralab. In light of the Group’s announcement and the development of the pipeline in Italy, we confirm our recommendation: rating BUY, target price € 11.50, risk MEDIUM.

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