Italy-based Chiron Energy has announced a significant investment from Australia’s Macquarie Capital to create a joint venture, named Chiron Energy Power Generation, aimed at supporting the development, construction and operation of renewable energy generation facilities and energy storage systems across Italy.
The newly established platform, owned 51% by Chiron Energy and 49% by Macquarie Capital, intends to develop and construct at least 1 GW of new solar PV capacity and 500 MW of battery energy storage systems.
These projects are designed to directly support the objectives outlined in Chiron Energy’s business plan, which foresees total investments of approximately EUR2.5bn, as well as the ownership and operation of more than 2 GW of photovoltaic capacity and 1 GW of BESS systems by 2035.
The platform will incorporate 115 MW of operational photovoltaic plants located in Northern Italy, which were developed and built by Chiron Energy between 2020 and today. These assets will contribute to reaching the company’s target of 1 GW of installed photovoltaic capacity as part of its development strategy.
“Access to Chiron's pipeline will also ensure rapid growth at the entry stage of projects in advanced development, including over 300 MW of ready-to-build photovoltaics, an additional 250 MW of late-stage photovoltaics and 700 MW of BESS systems currently under development”, said Chiron Energy.