Regulatory News:
NHOA Energy, the company of NHOA Group (NHOA.PA, formerly Engie EPS) (Paris:NHOA) dedicated to energy storage, announces that it has been selected as turnkey supplier for a 39MWh Battery Energy Storage System in central Italy.
The project was selected by Terna, the Italian Transmission System Operator, in the 2024 Capacity Market auction, the remuneration system created to guarantee that long-term price signals and adequacy conditions of the electricity system are consistent with EU decarbonization objectives. Moreover, a new mechanism for Terna to procure in advance energy storage capacity is currently under review and will be finalized in the coming months, to underpin Italy's target of 71GWh of new grid-scale battery storage by 2030 under the "Fit-for-55" EU framework (reducing greenhouse emissions by 55% by 2030).
Following the 70MW being delivered by NHOA Energy in the context of the Fast Reserve Units, the award of this project confirms NHOA Energy's capability to design systems able to provide all the different energy storage services in the Italian market and paves the road for additional deployments in sight of the future storage auctions to reach the 2030 EU targets.
Located in central Italy, the system will be strategically positioned within the perimeter of the existing combined cycle gas plant, enabling the connection of the battery storage system with the existing power plant, and fully integrating into the plant's control architecture while, at the same time, ensuring optimal performances and reliability.
"This award, in the context of the 2024 Capacity Market auctions, is an important signal and opens the doors for the future projects that Italy will need to put in view of the EU 2030 decarbonization objectives. At NHOA Energy, our vision aligns with creating a more sustainable future and doing so partnering with esteemed energy players and with the help of Terna amplifies our mission, allowing us to collaborate and innovate, redefining the landscape of renewable energy solutions for generations to come", commented Fabrizio Ciaccia, Vice President EMEA of NHOA Energy
The construction phase is expected to start by the end of 2023 while commercial operation is expected by December 2024.
NHOA Group
NHOA S.A. (formerly Engie EPS), global player in energy storage, e-mobility and EV fast and ultra-fast charging network, develops technologies enabling the transition towards clean energy and sustainable mobility, shaping the future of a next generation living in harmony with our planet.
Listed on Euronext Paris regulated market (NHOA.PA), NHOA Group forms part of the CAC Mid Small and CAC All-Tradable financial indices.
For further information, go towww.nhoagroup.com
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NHOA Energy
NHOA Energy is NHOA Group's business unit that designs and delivers turn-key energy storage systems, transforming solar and wind farms into sustainable energy sources available 24/7. As a pioneer in microgrids with renewables and green storage systems, NHOA Energy ranks among the top global system integrators with more than 15 years of experience and over 1.6GWh of capacity online and under construction in four continents around the world. NHOA Energy with offices in UK, US, Taiwan and Australia, maintains research, development, and production of its technologies entirely in Italy.
For further information, go towww.nhoa.energy
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View source version on businesswire.com: https://www.businesswire.com/news/home/20231020089983/en/
Contacts:
Press Office: Claudia Caracausi and Davide Bruzzese, Image Building, +39 02 89011300, nhoa@imagebuilding.it
Financial Communication and Institutional Relations: Chiara Cerri, +39 337 1484534, media.relations@nhoagroup.com
