Bia Power Italia S.r.l. (“Bia”) and Alternative Capital Partners SGR S.p.A (“ACP”) on behalf of the Sustainable Securities Fund (“SSF”) today announced the funding of an Investment Agreement signed on November 18th that will provide development stage capital, comprising both debt and equity, to accelerate Bia’s expansion of its Battery Energy Storage Systems (“BESS”) portfolio in Italy.
As part of the transaction, ACP’s Managing Director, Evarist Granata, will join Bia’s Board of Directors.
The investment supports Bia’s growth within its established joint venture with EREN Groupe (“EREN”), under which Bia is targeting development of 750MW of BESS projects in Italy. On November 4th, Bia secured the acceptance of an additional site into the JV bringing the current portfolio to six projects with a combined capacity of approximately 564 MW / 2,608 MWh, of which 2 projects in Sicily and one in Calabria of approx. 264 MW / 1,408 MWh are in late stage development with targets for Ready to Build between Q2/Q3 2026.
Bia Director Vickram Mirchadani said:
“It is very positive to have an experienced, long-term Italian partner of ACP’s calibre join us in the development cycle of the joint venture and provide the additional financial capacity and strategic input we require to meet our target of sourcing 750MW for BESS construction and operations with EREN”.
The Managing Director of ACP Evarist Granata said:
“We are very pleased to have agreed this investment in Bia, which has structured an innovative approach to large-scale BESS development in Italy through its JV with EREN. We look forward to a long term relationship as the projects progress from approval to construction and operation”.
About Bia Power – Visit: www.biaitalia.com
Bia Power Group is a specialist developer of BESS and other renewable power projects, with over a decade of experience delivering assets in the UK and Italy. Through its joint venture with EREN Storage Italia, Bia is developing a targeted 750MW portfolio of BESS assets in Italy.
About ACP – www.alternativecapital.partners
Alternative Capital Partners SGR SpA (ACP) is a Milan-based alternative investment management company, authorised as a FIA and EuVECA manager, specialising in infrastructure and VC Investments. The real asset strategy supports the energy transition in renewables, biomethane and BESS in Italy.
Founded in 2018, ACP integrates ESG principles across all investment processes with the aim of delivering responsible returns while generating measurable environmental and social impact.
About EREN – www.eren-groupe.com/en
EREN Groupe was founded by Pâris Mouratoglou and David Corchia in 2011, after the sale of EDF Energies Nouvelles, comprising multiple renewable energy projects operating as an Independent Power Producer that had been founded by Pâris Mouratoglou in the 90s and led by David Corchia from 2004.
EREN was created to deploy a wide range of solutions allowing for more efficient use of natural resources through two branches: EREN Renewable Energy, which became Total EREN in 2017 and was sold to TotalEnergies in 2023, and an Industries branch. Through its Industries branch, EREN is active across different sectors of the energy transition such as thermal management of buildings & industries, low carbon generation (including hydrogen, biogas, biomethane,), energy storage, treatment of waste to capture energy, CO2 and other valuable byproducts.
Transaction Advisors
The debt and equity were originated, structured and placed by ARC Associates, the London based Infrastructure corporate finance firm:
https://arcassociates.com/ [email protected]
The legal advisors were Bird & Bird, Rome: [email protected]
https://www.twobirds.com/it/
Contacts:
ACP: Evarist Granata (Managing Director – Energy Infrastructure)
ARC: John Allen (Executive Chairman)
Bia Power: Vickram Mirchandani (CEO)
Bird & Bird: Raquel Royo Ibañez (Head of Marketing & Business Development)