Engie Italia Expands Energy Storage Portfolio with New Acquisition
Deal News | Jul 08, 2025 | Finance Community IT - 1 Corporate M&A
Engie Italia has acquired two 100 MW Battery Energy Storage Systems (BESS) from Recurrent Energy, a division of Canadian Solar. These storage facilities are located in Latiano, Brindisi, and are ready for construction. The acquisition aligns with Engie's strategy to reach 1.6 gigawatts of installed power in Italy by 2030. Currently, Engie operates 14 photovoltaic plants, 17 wind farms, and four storage batteries in the country. Chiomenti served as legal advisor for Engie, while Recurrent Energy was represented by Green Horse Legal Advisory, JLL, and Enertis Applus+. These energy storage systems are crucial for the stability and flexibility of Italy's power grid as renewable energy sources continue to grow. Andrea Fiocchi, Managing Director of Engie Italia's renewables division, emphasized the acquisition's alignment with the company's renewable energy development plan, contributing to Italy's energy transition.
Sectors
- Renewable Energy
- Energy Storage
- Mergers and Acquisitions
Geography
- Italy – The acquisition and the involved energy projects are located in Italy.
- Canada – Recurrent Energy, the seller, is a division of Canadian Solar, headquartered in Canada.
Industry
- Renewable Energy – The acquisition involves Battery Energy Storage Systems crucial for renewable energy infrastructure.
- Energy Storage – The focus on Battery Energy Storage Systems highlights the industry's importance to energy flexibility and reliability.
- Mergers and Acquisitions – The article discusses a significant acquisition in the energy sector, showcasing the M&A activity.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Engie Italia | Acquirer | Company | A leading energy company focused on renewable and storage solutions in Italy. |
| Recurrent Energy | Vendor | Company | A subsidiary of Canadian Solar that develops and manages solar and energy storage projects. |
| Canadian Solar | Parent Company | Company | A global energy company with operations in solar power development. |
| Chiomenti | Legal Advisor | Company | Provided external legal advisory to Engie Italia for the acquisition. |
| Green Horse Legal Advisory | Legal Advisor | Company | Assisted Recurrent Energy team in legal and M&A matters. |
| JLL | Financial and M&A Advisor | Company | Advised Recurrent Energy on financial and M&A aspects of the transaction. |
| Enertis Applus+ | Technical Advisor | Company | Provided technical advisory services to Recurrent Energy. |
| Andrea Fiocchi | Executive | Person | Managing Director of the Renewables & Batteries division at Engie Italia. |