(Tiper Stock Exchange) – Redelfimanagement company listed on Euronext Growth Milan, e Althaea Green Powera company listed on Euronext Growth Milan and active in the construction of plants for the production of renewable energy, have communicated that the Joint Venture (JV) launched in December (BESS Power) has perfected the purchase of a stand-alone battery energy storage system projectthrough the acquisition of 100% of the share capital of the related US vehicle company Lund Storage Center 1.
The price is 500,000 dollars, plus an earn-out of 20,000 $/MW authorized, which will be paid upon the sale of the same project to third party investors. The Lund Storage Project, in a more advanced stage of development, is increasing the current pipeline of BESS Power, which includes an additional 200 MW in preliminary development. Under this contract, BESS Power will hold preliminary projects of approximately 600 MW out of a total projected pipeline of 1.4 GW.
BESS Power is expanding its pipeline “both directly with a busy origination work and through the acquisition of early stage projects, in line with the ambitious development program presented to the market”, commented David Sommarivapresident of Redelfi.
“With this acquisition, the growth of Altea Green Power in the American market continues and takes shape”, he noted John DiPascalepresident of Altea Green Power.
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