New Investments in BESS in Sicily
Israeli Cleantech Firm N2OFF Invests $1.2 Million in Energy Storage Projects in Sicily
Israeli cleantech company N2OFF Inc. has invested $1.2 million in the development of two energy storage projects in Sicily, with a combined capacity of 196 MWp / 784 MWh. This is the second tranche of a previously announced $2.7 million investment aimed at preparing the projects for the “Ready to Build” (RTB) stage.
Investing in the Future of Italy’s Renewable Energy Sector
N2OFF is known for its activities at the intersection of solar technology and agrotechnology. In February 2025, the company acquired a 70% stake in the projects from its strategic partner, Solterra Renewable Energy Ltd. Each of the two energy storage systems in Sicily has a capacity of 98 MWp and 392 MWh, providing significant potential to help stabilize Italy’s power grid.
According to the company, preliminary grid connection approvals have already been obtained from national transmission operator Terna SpA, and full RTB status is expected within 18–24 months.
Project Value Estimated at $13.5 Million
According to industry sources, projects of this scale can reach a value of up to $13.5 million, which translates to approximately $70,000 per MW of installed capacity. N2OFF states that its strategy focuses on acquiring assets in early stages, securing the necessary permits and land rights, and then selling off fully developed projects.
“Our estimates are based on 2024 data, but we believe the potential could be even higher as the Italian solar market is rapidly expanding thanks to government support and growing public environmental awareness,” said David Palach, CEO of N2OFF.
The Role of BESS in Italy’s Energy Transition
According to Statista forecasts, solar power generation in Italy is expected to reach 36.47 billion kWh in 2025, with an average annual growth rate of 6.86% between 2025 and 2029. Italy aims to achieve 52 GW of installed solar PV capacity by 2030 and a 74.6% share of renewables in its energy mix by 2050.
In this context, battery energy storage systems (BESS) are a critical component of the infrastructure, enabling:
- grid frequency regulation,
- energy arbitrage (buying energy when prices are low and selling when high),
- participation in the capacity market.
Part of a Broader European Strategy
The Sicilian projects are part of N2OFF’s broader expansion strategy in the European renewable energy sector. The company is also involved in:
- expanding a 111 MWp PV farm in Melz, Germany with an additional BESS component of 40–60 MWp,
- financing a BESS project in Poland (35 MW / 140 MWh), which is planned to be sold within 30 months.
Additionally, N2OFF recently secured $3 million in funding from YA II PN, Ltd., further strengthening its financial position. The deal includes the issuance of 12-month maturity debt instruments and the issuance of over 675,000 shares to the investor.
Source: investing.com