RGREENINVEST and Renalfa Solarpro Group have agreed to form a joint venture (JV), Renalfa Power Clusters (RPC), with both parties committing the equivalent of €200m ($231m) to the company.
The new JV plans to finance an €800 million pipeline of large-scale hybrid renewable energy projects in Romania and Poland.
RGREENINVEST will invest through its INFRAGREEN equity funds as part of this initiative.
The collaboration follows their previous JV, Renalfa IPP, which expanded its portfolio of utility-scale hybrid assets equipped with long-term battery storage across Europe in less than five years.
The experience gained from the Renalfa IPP enabled the partners to implement business models focused on the integration of renewable generation with storage technologies.
The RPC will use advanced technology to generate, store and transmit electricity, with a long-term battery energy storage system (BESS) forming the central component.
It will offer optimization solutions for data centers as well as low carbon industries.
Nicolas Rochon, founder and CEO of RGREEN INVEST, said: “Renalfa IPP has developed into a leading European platform that deploys long-term BESS to integrate large-scale renewables and deliver competitive green baseload products to the market. With RPC, we take this ambition to the next level.”
“Many people don’t talk about it, but we’re in the middle of an electronic revolution. It’s not noise and it’s in the pure market. It’s not tied to policy instruments, that’s why it’s irreversible,” said Rinalfa CEO Ivo Prokopiov.
“There is a learning curve in how to use battery and optimization technologies in different economic activity cases. Banks and capital markets are starting to see the opportunity and I expect more funding will be available for competitive commercial projects.”
“RGREENINVEST and Renalfa to form renewables JV” was originally developed and published by Power Technologies, a brand owned by Global Data.
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