The European Commission approves €17.7bn Italian initiative for 9 GW/71GWh new electricity storage project

The European Commission has approved a €17.7bn Italian plan to bolster the electricity storage system in the country. This initiative aims to better integrate renewable energy into the Italian electricity grid. It is also aligned with the European Green Deal and the EU’s ‘Fit for 55‘ package.

The scheme offers financial aid through competitive bidding, aiming to minimize support while maximizing storage utilization and helping answer the massive needs in renewable energy integration forecasted by Italian GO15 member and TSO Terna.