Latest news with #FlavioCattaneo
Arabian Post
17-05-2025
- Business
- Arabian Post
Enel and Masdar Explore Joint Battery Storage Projects in Italy
Enel, Italy's largest utility, and Abu Dhabi-based renewable energy firm Masdar are in preliminary discussions to jointly develop battery storage capacity within Italy. The announcement was made by Enel CEO Flavio Cattaneo during a business conference in Milan. The companies, already partners in renewable energy ventures in Spain, are considering expanding their collaboration to include energy storage systems in Italy. Cattaneo highlighted a shared vision with Masdar to advance into new markets, specifically mentioning Italy's interest in battery and storage systems. This potential partnership aligns with Italy's broader strategy to enhance its renewable energy infrastructure. As the country increases its capacity for solar and wind energy, the need for efficient storage solutions becomes critical to ensure a stable power supply during periods when renewable sources are not generating electricity. Italy's transmission system operator, Terna, has projected a requirement for 71 gigawatt-hours of new grid-scale energy storage by 2030 to meet the European Union's decarbonization targets. This includes an estimated 8.875 gigawatts of power rating for the new storage capacity. To facilitate this, Terna plans to initiate an auction for energy storage capacity at the end of September. The collaboration between Enel and Masdar in Spain serves as a precedent for their potential projects in Italy. In Spain, Masdar acquired a 49.99% stake in 2GW of solar energy plants operated by Endesa, a subsidiary of Enel, with plans to add up to 0.5GW of battery energy storage systems. This €817 million investment marked one of Spain's significant renewable energy transactions, reinforcing Masdar's commitment to expanding its renewable energy footprint in Europe. Masdar's strategic investments are part of its broader goal to achieve 100GW of renewable energy capacity globally by 2030. The company has been actively expanding its presence in Europe, including a recent agreement to acquire a 49.99% stake in four Endesa solar assets in Spain, totaling 446 megawatts , for €184 million. These moves underscore Masdar's dedication to supporting Europe's transition to renewable energy. Italy's focus on developing battery storage systems is crucial for integrating the increasing share of renewable energy into the national grid. Currently, the country has a growing market for battery energy storage systems, with a significant portion consisting of residential-scale systems associated with small-scale solar plants. However, to meet future energy demands and ensure grid stability, there is a pressing need to develop large-scale, stand-alone utility storage facilities. ____________________________________
Zawya
16-05-2025
- Business
- Zawya
Enel, Masdar in preliminary talks over energy storage in Italy
Enel and Abu Dhabi's Masdar are in preliminary talks over potentially jointly developing energy storage capacity in Italy, Flavio Cattaneo, the CEO of Italy's biggest utility, said on Friday. The Italian and Emirati companies already have a partnership for a portfolio of renewable energy assets in Spain and are exploring options to extend their alliance to more countries, Cattaneo said at a business conference in Milan. He said there was a common understanding with Masdar "to move forward also in other geographies including Italy, where they are interested in batteries and storage systems and we are very happy to have partners". As Italy increases its capacity to produce energy from renewable sources, it also needs to develop battery storage systems able to release power when solar and wind energy are not available. Italian power grid operator Terna is due to launch an auction to buy energy storage capacity at the end of September. (Reporting by Elvira Pollina. Writing by Francesca Landini. Editing by Gavin Jones and Mark Potter)
Reuters
16-05-2025
- Business
- Reuters
Enel, Masdar could join forces on energy storage in Italy, Enel CEO says
MILAN, May 16 (Reuters) - Enel ( opens new tab and Abu Dhabi's Masdar could join forces on energy storage assets in Italy, Flavio Cattaneo, the chief executive of Italy's biggest utility, said on Friday. Enel and Abu Dhabi's state-owned renewable power company Masdar are already in a partnership through Enel's Spanish subsidiary Endesa ( opens new tab on a photovoltaic portfolio in Spain.
Reuters
28-03-2025
- Business
- Reuters
Third-largest Generali investor proposes board candidates including Enel, Acea CEOs
MILAN, March 28 (Reuters) - Generali's ( opens new tab third-largest investor, Italian business tycoon Francesco Gaetano Caltagirone, proposed on Friday a slate of six candidates for the new board of the country's biggest insurer. Utility Enel's ( opens new tab Chief Executive Flavio Cattaneo, and the CEO of the smaller Rome utility Acea ( opens new tab, Fabrizio Palermo, are among Caltagirone's candidates. The construction and publishing billionaire has a 6.9% stake in Generali. The insurer's investors will vote in a new board on April 24. Mediobanca ( opens new tab, Generali's top investor, said on Friday it had proposed another term for current CEO Philippe Donnet.
Trade Arabia
25-03-2025
- Business
- Trade Arabia
Masdar expands Endesa ties with $397m renewable deal
Abu Dhabi Future Energy Company (Masdar), the UAE's clean energy leader, has announced an agreement with Endesa SA to acquire a 49.99 percent stake in four solar plants in Spain, with a total capacity of 446 megawatts (MW). The transaction, which is subject to regulatory approvals and other conditions, would see Masdar invest €184 million ($198.77 million) for the stake in the assets, which have an enterprise value of €368 million ($397.54 million). These operating assets mark a significant milestone in Masdar's continued growth in the Iberian Peninsula and across Europe, and further its commitment to advancing the region's renewable energy ambitions. The proposed acquisition follows last year's agreement between Masdar and Endesa to partner in a portfolio of over 2GW of solar assets, with the potential to add 0.5GW of battery storage, in one of Spain's biggest renewable energy transactions in recent years, the company said. Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said: "This acquisition further reflects Masdar's commitment to supporting Europe's decarbonisation goals and advancing the global energy transformation. It also marks another significant step in our strategic expansion in the Iberian Peninsula and Europe, adding to our growing portfolio on the continent. Strengthening our partnership with Endesa positions us to unlock new renewable energy opportunities across Europe and beyond, while driving sustainable growth and boosting prosperity." "With this transaction, we are renewing the cooperation launched last year with a major player such as Masdar," said Flavio Cattaneo, Enel Group CEO. "The agreement demonstrates our commitment to accelerate the energy transition also in partnership with large international industrial groups, in line with our Strategic Plan." Masdar's continued partnership with Endesa is expected to play a significant role in helping Spain meet its National Energy and Climate Plan (NECP) targets. Last year, Masdar also acquired Saeta, an established renewables platform with an operating portfolio of 745MW of predominantly wind assets, and a 1.6GW development pipeline in Spain and Portugal. This latest transaction brings Masdar's total operational capacity in the Iberian Peninsula to 3.2GW.
