Altea Green Power (EGM: Altea), a company engaged in the development, construction and global assistance at all stages of power plant management, announces the launch of the Black Bess project in Italy.
1GW storage capacity
This energy storage project, with a capacity of 1GW, will be implemented at four sites in central and southern Italy, and is scheduled for completion by the first half of 2024. In addition, Black Bess joins the Green Bess, Blue Bess and Yellow Bess projects, bringing the company’s total storage capacity to 2GW. Currently, two major international investors are in advanced talks with Altea Green Power to co-develop these projects.
Growth and Future Plans
In July 2022, the company signed a contract with Irish fund Aèr Soléir to co-develop a 0.5GW project. Indeed, the authorization process for this project is currently at an advanced stage, with the expectation of securing initial authorizations as early as the first half of 2024. In addition, Altea Green Power has clear plans in the field of energy storage, aiming to reach a total capacity of 5.5GW throughout Italy by 2026.
Geographic diversification
After Black Bess will come White Bess and Pink Bess, each with a capacity of 1GW. In addition, the company will develop 90% of its projects in central and southern Italy, leaving the remaining 10% in northern Italy.
Commitment to Renewable Energy
Giovanni Di Pascale, CEO of Altea Green Power, comments: “We are extremely pleased with the progress made in the field of energy storage, both nationally and internationally. Moreover, we believe that this market is the ideal channel for promoting renewable energies, with significant potential for development and growth. By 2026, our goal in Italy is to reach a capacity of 5.5GW, capitalizing on our engineering expertise acquired over the years, which will strengthen our position as a key player.”
Altea Green Power has chosen to differentiate its storage projects by giving them names associated with the colors present in its logo (Blue, Green, Yellow, Black and White), thus offering distinct recognition. In addition, the name Pink Bess is included as a tribute to the company’s commitment to sustainability, inclusion and gender equality. Indeed, the name recognizes the significant contribution of the female professionals on the Altea team, who represent 39% of Altea Green Power’s human capital, as highlighted in the company’s first sustainability report.
Altea Green Power’s Black Bess project marks an important milestone in the realization of their vision of Italy’s sustainable energy future. Indeed, the company is planning a large-scale expansion in the field of energy storage and is committed to diversity and sustainability, affirming its intention to play a key role in the country’s energy transition.
