Israel’s N2OFF, Italy’s Solterra plan 784 MWh of battery storage in Sicily
The agreement provides for the construction of two battery energy storage systems (BESS) in Sicily, each with a capacity of 98 MW/392 MWh.
Israeli technology company N2OFF says it has signed a binding letter of intent with Solterra Ltd. subsidiary Soltera Brand Services Italy to construct two 98 MW/392 MWh BESS in Sicily.
Under the terms of the deal, N2OFF will eventually own around 70% of the projects after an investment of up to €2.35 million ($2.43 million).
The projects, which are expected to require 18-24 months to reach ready-to-build stage, have received grid connection approval from Italian electricity transmission system operator Terna.
Liran Giladi, president of Soltera Brand Services partner business Brand Group, said, “We believe that the BESS market is growing and that this joint venture can bring value to the shareholders of both entities.”
From pv magazine Italia.
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