A new infrastructure platform dedicated to the development, construction, and operation of utility-scale Battery Energy Storage Systems (BESS) in Italy
Sourcing and Investment Rationale
- Bilateral negotiation thanks to the FIEE’s proprietary origination network in Italy
- The platform has been established with the goal of positioning itself as an independent BESS operator with a nationwide presence in Italy, capitalizing on the most significant market opportunities in the sector. It will target opportunities across the Capacity Market, the progressive expansion of long-term tolling agreements and the auctions held under the Electricity Storage Capacity Procurement Mechanism (MACSE), a key driver of utility-scale storage development in Italy.
- The launch of the platform comes at a time of rapid growth in the energy storage market, both in Italy and globally. In Italy, Terna’s first MACSE auction, held in September 2025, awarded 10 GWh of storage capacity, with the contracted facilities scheduled to enter operation in 2028. According to Morningstar DBRS data, Italy’s current BESS pipeline exceeds 10 GW, with 73 projects already authorized (including 67 operational plants), 31 announced projects, and 6 under construction. Globally, annual new energy storage installations are expected to surpass 300 GW by 2036.
Value Creation
The transaction, which involves a total investment plan of €150 million, has been carried out in partnership with Energy Transition Capital S.r.l. (Entracap), the sponsor and advisory company of Entracap Fund, a closed-end investment fund focused on the energy transition and managed by Castello Sgr.
In addition to providing strategic and management support, Entracap will contribute with its significant industrial, technical, and operational expertise in the energy storage sector. The platform will benefit from a team of highly experienced professionals with a proven expertise gained while working with leading companies across the energy industry.
Highlights Progress Update
FIEE Storage Platform powered by Entracap entered into its first agreement—with Infrastrutture S.p.A. and Projetto Engineering S.r.l.—for the acquisition of a selected pipeline of authorized and authorization-stage BESS projects in Italy, representing a total capacity of approximately 1.3 GW.
The strategy calls for the development of the assets until they reach the “Ready-to-Build” status, then optimizing the portfolio through a build-operate-sell model for certain assets and the sale of other projects.
