Large-scale energy storage – Italy will receive huge financial support
The European Commission has given its approval for a support initiative aimed at funding extensive energy storage projects in Italy. These projects are intended to have a capacity exceeding 9 gigawatts (GW) and a storage capacity of 71 gigawatt-hours (GWh).
With a total value of EUR 17.7 billion, the program encompasses financial support for both investment and operational expenses incurred by entities engaged in the development, construction, and operation of extensive energy storage systems in Italy. The allocation of funds will follow a competitive bidding process, where developers securing the lowest bids will be awarded the support.
This assistance program for Italy aligns with the goals of the European Union’s “Fit for 55” package, reflecting the EU’s commitment to its green policy objectives. Notably, the structure of this aid initiative mirrors the support extended to Greece in the preceding year.
Covering Italy’s needs
Terna, the operator of the Italian transmission system, projects a demand for 71 gigawatt-hours (GWh) of new energy storage capacity in Italy. This is in response to the increasing installed capacity of renewable energy sources. The eligible technologies identified by Terna include lithium-ion batteries, pumped storage, compressed air energy storage (CAES), non-lithium electrochemical storage, green hydrogen, electrostatic or magnetic storage, and flywheel electromechanical storage. Additionally, other technologies meeting the necessary technical criteria will also be considered, with the list undergoing updates every two years.
Investments and reforms
In Italy’s energy storage sector, the shift extends beyond mere investments to encompass significant reforms. A pivotal reform involves the establishment of a novel “time-shifted trading platform.” This platform will consolidate energy storage capacities into standardized time-shifted products. These products will be made available to entities requiring flexibility to navigate periods of reduced generation while producing energy from renewable sources.
Source: energy-storage.news