Below is the press release and by clicking here it can be downloaded in pdf.
BESS POWER CORP. ACQUIRES A 400 MW PROJECT FOR THE DEVELOPMENT OF BATTERY ENERGY STORAGE SYSTEMS STAND-ALONE. THE PIPELINE REACHES 600 MW OF TOTAL CAPACITY.
Milan, 11 January 2023
Redelfi S.p.A. (the “Company” or “Redelfi”), management company engaged in the digital and green transaction, listed on Euronext Growth Milan, and Altea Green Power S.p.A. (“AGP”) – active in the development and implementation of initiatives in the field of renewable energy and energy efficiency – both listed on the market Euronext Growth Milan, announce that the subsidiary of American law BESS Power Corporation (“BESS Power”) has completed the purchase of a stand-alone battery energy storage system (the “Lund Storage Project”) by acquiring 100% of the share capital of the related company under American law Lund Storage Center 1 LLC.
BESS Power – controlled for 65% by RAL Green Energy Corporation, in turn jointly controlled by Redelfi and AGP, as announced on December 15th, 2022 – purchased the Lund Storage Project from the American developer Aelius Solar Corp. at a price of $500.000 in addition to a earn-out for an amount of $ 20.000 /MW authorized, which will be paid at the time of the sale of the project to third investors.
The Lund Storage Project, in advanced development phase, increases today’s BESS Power pipeline, which includes other 200 MW in preliminary development phase. Under this contract, BESS Power will hold preliminary projects for about 600 MW over the planned total pipeline of 1,4 GW.
Davide Sommariva, Chairman of the Board of Directors of Redelfi, said: “The purchase of the Lund Storage Project constitutes an important step forward for BESS Power, which is expanding their pipeline both directly with an origination work, and through the acquisition of early stage projects, in line with the ambitious development program presented to the market.”
Giovanni Di Pascale, Chairman of the Board of Directors of AGP commented: “With this acquisition, continues and is achieved the growth of Altea Green Power on the American market. Thanks to the JV with Redelfi in BESS Power, in fact, there is an important joint development plan in the USA for the large capacity storage system with a total power of 1,4 GW”.
This press release is available on website www.redelfi.com, section Investor Relations > Press Release, on the website www.alteagreenpower.it, section Investor Relations > Financial press release and on www.1info.it.
Redelfi is a company, head on homonymous Group, engaged in the field of digital and green transition through business three Business Unit, active in Green, MarTech and GreenTech. Each Business Unit adopts a strongly innovative approach in the definition of products, services and processes with an highly attention on the respect on ESG criteria and governance.
During the 2021, the Group has realized a Value of Production (consolidated) equal to € 1,2 million and a profit of € 3,5 million, this last result following the extraordinary operation. The NFP is cash positive for an amount of € 0,1 million and the Net Assets is equal to € 5,6 million. In 2021 the Group invested an amount about €4,5 million. Nell’esercizio 2021 il Gruppo ha realizzato un Valore della Produzione (consolidato pro-forma) pari a € 1,2 milioni e un Risultato Netto pari a € 3,5 milioni, quest’ultimo a seguito di operazioni straordinarie. La Posizione Finanziaria Netta è cash positive per € 0,1 milioni e il Patrimonio Netto è pari a € 5,6 milioni. Nel 2021 il Gruppo ha effettuato investimenti per circa € 4,5 milioni.
Altea Green Power: Altea Green Power is a company active in the development and construction of plants for the production of energy in respect of the environment and ad a “service integrator”, turning its capabilities to private individuals, companies, antities and investors interested in a complete assistance during all the phases of realization and management for a wide range of plant types, in particular in the photovoltaic, wind, cogeneration, biomass, storage and energy efficiency fields, contributing to the reduction of pollution. Founded in 2008 by the will of Giovanni Di Pascale, under the name of Altea Energia, in October 2021 changed its name to Altea Green Power and today can boast the turnkey supply of numerous photovoltaic and wind plants throughout Italy, the development and sale of projects for as many MW for co-investment and current developments in the field of wind and biomass under finalization. It has contracted, in fact, 800 MW in Co-development with some of the major players worldwide. From 1 February 2022 it is listed on the Euronext Growth Milan market of Borsa Italiana.
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