The project’s connection point has been confirmed as the Pignicelle substation, located less than 3 km from the project site. The expected construction timeline is 20 months from signing the connection agreement.

The project is expected to include an energy storage facility with a capacity of up to 3 gigawatt-hours (GWh) and is one of the largest energy storage projects currently being developed in Italy. The facility is expected to inject up to 509.25 MW into the electricity grid for several hours, thereby contributing to the stability of the Italian electricity grid and enabling broader integration of renewable energy into the grid.

The project represents a significant milestone in the implementation of Airengy’s strategic plan to expand its activities in the energy storage sector across Europe, while continuing development and commercialisation of the company’s long-duration energy storage technology.

The connection approval enables the advancement of subsequent development stages, including completion of the engineering design, the advancement of the licensing and preparation to compete on tenders in the Italian energy storage market. The parties are currently advancing the documentation required for submitting the regulatory application to Italy’s Ministry of the Environment and Energy Security (MASE).

Last week, Airengy announced the completion of binding agreements for the acquisition of a portfolio of six solar project companies in Poland with a total capacity of approximately 34 MW. These are revenue-generating assets that will produce income from day one and are expected to be enhanced through the integration of battery energy storage systems (BESS). The total transaction value is approximately 23.7 million euros, reflecting an average price of 690,000 euros per installed MW. The transaction is expected to be completed in three stages through 2027, according to the progress of grid connection and commercial operation of the projects.

“Obtaining the grid connection approval for the energy storage project in Italy represents a significant milestone for Airengy and strengthens our position in the rapidly developing European energy storage market” said Yiftach Ron-Tal, Chairman of Airengy. “The company continues to vigorously advance the implementation of its strategy. This includes implementation of CAPP technology for the construction of long-duration compressed air energy storage power stations, alongside the expansion of development and commercialisation activities for energy and storage projects in Israel and Europe.”