Redelfi starts authorization process for 1.43 GW of BESS projects in Italy

Read the press release in PDF format (in italian)

REDELFI STARTS PERMITTING PROCESS FOR 1.43 GW OF BESS PROJECTS IN ITALY

Milan, June 11, 2024

Redelfi S.p.A. (“Redelfi” or the “Society“), a company heading the Genoa-based industrial group of the same name – engaged in the development of innovative and sustainable infrastructures to facilitate the energy transition, and listed on the Euronext Growth Milan segment of the Italian Stock Exchange – announces that it has initiated, with the technical support of AFRY, a leading engineering services provider listed on Nasdaq Stockholm, the authorization process for eight stand-alone Battery Energy Storage System projects (“BESS“) in Italy, for a capacity of about 1.43 GW, amounting to about one-third of the entire 4.3 GW Italian pipeline presented in the 2023-2026 Business Plan (“Business Plan 2023-2026“) – ref c.s. Dec. 11, 2023 – and subsequently updated. The start of the administrative process of project authorization represents a significant step forward for the development of the Italian pipeline, which currently consists of the so-called. “Redelfi Pipeline” for a capacity of 950 MW and from the so-called. “Pipeline Bright Storage” recently expanded to a capacity of 3.3 GW – ref c.s. May 21, 2024. The collaboration with AFRY is a strategic choice both for the achievement of the goals set in the 2023-2026 Business Plan and for future developments, as well as for the important added value brought to Redelfi in basic design activities and the permitting process in order to efficiently reach the “Ready-To-Build” stage of BESS projects. AFRY, a Nasdaq-listed company in Stockholm, provides engineering, design and consulting services in the area of decarbonization and energy transition activities. The company operates mainly in the industrial, energy and transportation infrastructure sectors. Davide Sommariva, Chairman of the Board of Directors of Redelfi S.p.A. commented, “Achieving this important step confirms Redelfi’s determination and perseverance in pursuing the goals set. BESS is key to the realization of an Italian renewable energy system, and AFRY represents a valuable partner for Redelfi in the pursuit of these goals, as it shares the same values as we do and has long worked under the banner of sustainability.” Alessio Giuffra, managing director of AFRY in Italy commented, “Se are proud of the long-standing relationship of trust and collaboration with Redelphi. Our well-established experience in BESS projects will be critical in obtaining the necessary permits and proceeding toward the construction phase. We are confident that our services will not only bring significant value to Redelphi, but also contribute to a more sustainable energy system“. This press release is available on the website www.redelfi.com, Investor Relations section > Press Releases and at www.1info.it.

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Redelfi is the company at the helm of the homonymous Group, engaged in the energy and digital transition, with a strong innovative approach in the definition of products, services and processes, and high focus on compliance with ESG principles. In the financial year 2023, the Group realized a Value of Production of Euro 11 million and a Net Profit of Euro 3 million. The Net Financial Position is cash negative in the amount of Euro 4.8 million and the Net Equity is Euro 25 million.

Redelfi starts authorization process for 1.43 GW of BESS projects in Italy

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