Italian developer Chiron Energy has secured an investment from Macquarie Capital to establish Chiron Energy Power Generation, a joint venture focused on developing, building and operating renewable energy and battery storage projects in Italy.
The new platform will be owned 51% by Chiron Energy and 49% by Macquarie Capital. It aims to develop at least 1 GW of new solar capacity and 500 MW of battery energy storage systems (BESS).
The venture is part of Chiron Energy’s long-term growth strategy, which targets about €2.5 billion in investments and ownership of more than 2 GW of solar and 1 GW of battery storage capacity by 2035.
The platform will initially include 115 MW of operating solar assets in northern Italy that Chiron Energy has developed and built since 2020.
Once it reaches its 1 GW solar and 500 MW storage targets, the portfolio is expected to generate about 1.4 TWh of renewable electricity annually, equivalent to the annual consumption of more than 500,000 Italian households, according to the company.
The joint venture will also have access to Chiron Energy’s development pipeline, which includes more than 300 MW of ready-to-build solar projects, another 250 MW of late-stage solar developments and 700 MW of battery storage projects under development.
Chiron Energy said it also controls additional early-stage development opportunities and about 12 million square meters of land in northern Italy that has been acquired or secured under option agreements.
Claudio Gigli will serve as chief executive officer of Chiron Energy Power Generation, while Paolo Pesaresi will be executive chairman.
From pv magazine Italia
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