(Alliance News) - Redelfi Spa on Tuesday announced that, in line with the term sheet entered into with the WRM Group, the Italian-registered company Bright Storage Spa has been established.

This, once the relevant contractual documentation is finalized, which is currently being finalized - will be 49 percent owned by Flash S.p.A. and will invest equity in the development of BESS Projects with a target of 2.8 GW over a three-year period.

Redelfi closed Monday's session in the green by 1.5 percent at EUR4.04 per share

By Maurizio Carta, Alliance News reporter

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