Macquarie Asset Management and Infrastructure Funds Target BESS Platforms in Europe

Enel, RWE and Iberdrola rank among the first major European energy groups to invest in battery storage, known as BESS (Battery Energy Storage Systems), over a decade ago. These utilities mobilized their corporate balance sheets and internal capabilities — engineering, project construction, electricity market trading and asset management — to develop and operate the first generation of such projects. Their motivations at that time were strategic and technical in nature rather than commercial, according to sector analyses.