(Alliance News) - Redelfi Spa announced Tuesday that its subsidiary Bright Storage Spa, which is 51 percent owned by Redelfi and 49 percent owned by Flash Spa, a company part of the WRM Group, has expanded its target for the development of stand-alone Battery Energy Storage System projects to a capacity of 3.3 GW.

"Due to Redelfi's acceleration in the process of identifying BESS projects and the subsequent achievement of the negotiated development target of 2.8 GW ahead of the budgeted timeframe, Bright Storage has resolved to expand the development target over the next five years, thus extending the pipeline to 3.3 GW," the company announced in a note.

The expansion of Bright Storage's pipeline implies exceeding - in terms of developed power - the target set for one of the four drivers underlying the 2023-2026 business plan presented to the market last December 2023, further consolidating Redelfi's efficiency in the role of developer.

"This expansion," the company adds, "will result in improved results during the current fiscal year, but the most significant impact in economic terms will be reflected in subsequent years, so the guidance of the updated 2023-2026 plan, approved on December 11, 2023, is still consistent with the business development forecasts and, therefore, as of today is confirmed.

Redelfi trades in the green by 3.8 percent at EUR6.06 per share.

By Chiara Bruschi, Alliance News reporter

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