Read the press release in PDF format here (in Italian)
2.8 GW POWER TARGET IN BRIGHT STORAGE PIPELINE ACHIEVED
ALL BESS PROJECTS SUBMITTED BY REDELFI UNDER THE DEVELOPMENT SERVICES AGREEMENT SIGNED WITH BRIGHT STORAGE WERE ACCEPTED, TOTALING 2.8 GW.
Milan, 03 April 2024
Redelfi S.p.A. (“Redelfi” or the “Company”), a company at the helm of the industrial group of the same name with operational headquarters in Genoa, Italy – engaged in the development of innovative and sustainable infrastructures to facilitate the energy transition and listed on the Euronext Growth Milan segment of Borsa Italiana – announces that its subsidiary Bright Storage S.p.A. (“Bright Storage”), 51% owned by Redelfi and 49% owned by Flash S.p.A., a company which is part of the WRM Group, has positively evaluated and accepted all BESS projects submitted by Redelfi under the Development Service Agreement (“DSA”) signed last February 12th – ref. p.r. 12 February 2024 -, for a total capacity of 2.8 GW, thus reaching the negotiated development target.
The achievement of this first goal confirms Redelfi’s effectiveness as a developer who, in a shorter time frame than anticipated, submitted the entire project pipeline to Bright Storage. Furthermore, the positive evaluation and subsequent acceptance of the projects by Bright Storage is a prerequisite for Redelfi’s collection of the first tranche of the agreed consideration for development services under the DSA, which, as previously noted, will bring recurrent revenues to the Company until the completion of the authorization process, through the development gates defined for each project, for a maximum duration of five years.
Davide Sommariva, President of the Board of Directors of Redelfi S.p.A. commented: “Achieving the development target agreed upon in the DSA makes us proud of the daily work of our team, which not only achieved the objective, but even accelerated the initially planned timeline, demonstrating how the know-how accumulated over the years is a key element in being effective in development activities. As partners of Bright Storage, we are pleased to have selected the pipeline projects and to be able to actively continue this ambitious project with Flash.”
This press release is available on website www.redelfi.com, section , and on www.1info.it.>
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Redelfi is the parent company of the Redelfi Group active in the digital and green transition by taking a highly innovative approach to defining products, services and processes with a strong focus on adherence to ESG principles in business management. Following the 2023 half-year financial report, the Group achieved a Production Value of EUR 4.2 million and Net Income of EUR1.4 million. The Net Financial Position amounted to EUR 3 million and the Shareholders’ Equity amounted to EUR 11 million.
Contacts:
ISSUER
Redelfi | Investor Relations Manager | Erika Padoan | investor-relations@redelfi.com | T: +39 320 7954739 | via A. Scarsellini, 119 Tower B “I Gemelli” 11th floor, 16149 Genova
Redelfi | Media Relations | Carolina Beretta | carolina.beretta@redelfi.com | via A. Scarsellini, 119 Tower B “I Gemelli” 11th floor, 16149 Genova
INVESTOR & FINANCIAL MEDIA RELATIONS
IR Top Consulting | Investor Relations | ir@irtop.com | T: + 39 02 4547 3884/3 | Via Bigli, 19 – 20121 Milano
IR Top Consulting | Media Relations | d.gentile@irtop.com | T: + 39 02 4547 3884/3 | Via Bigli, 19 – 20121 Milano
EURONEXT GROWTH ADVISOR
Integrae SIM | info@integraesim.it | T: +39 02 96846864 | Piazza Castello, 24 – 20121 Milano
