Press Releases

RPC makes maiden investment in Italy through 1GW storage development partnership with Altea Green Power

  • Renewable Power Capital and Altea Green Power will target 1GW of battery storage across Italy.   
  • The partners are aiming for the pipeline to reach ready-to-build status in the next 2-4 years.   
  • This marks RPC’s entry into the Italian storage sector, which it sees as a priority market with significant growth potential.  

London 25 March 0800 GMT

Renewable Power Capital (RPC) and Altea Green Power have entered into a development partnership for 1GW of battery energy storage in Italy.

Through this partnership, RPC adds a new jurisdiction to its fast-growing European storage pipeline – which now stands at more than 5.5GW.

The development partnership, which is focused on ensuring strong involvement of local municipalities and local stakeholders, is aiming to achieve ready-to-build status for the pipeline in the next 2-4 years. There is potential for expanding the cooperation beyond 1GW or into other technologies.

This development deal follows RPC’s recent ready-to-build BESS investments in two other countries, having recently completed on 50MW in Finland and 57MW in the UK. It forms part of RPC’s broader strategy to accelerate decarbonisation across Europe.

Ashurst and Fichter acted as legal and technical advisors, respectively, to RPC. DLA and Green Dealflow acted as legal and transaction advisors, respectively, to Altea Green Power.

Kevin Devlin, CEO at RPC, said: “This is an opportune time to enter the Italian storage market through a development partnership, given the interesting progress in the regulatory landscape and its significant growth potential. This deal once again reflects the strength of RPC’s approach to flexibly working with strong partners. We see the Italian storage sector as a strategic priority and we’re excited to be joining forces with such an experienced development partner as Altea Green Power.”

Giovanni Di Pascale, CEO at Altea Green Power, said: “I am very pleased with this co-development agreement, as it adds another piece to our BESS Storage projects and significantly enhances our overall power capacity. Partnering with well-established international investors specializing in the renewable energy sector provides a strong impetus, prompting us to engage in ongoing dialogue and make significant improvements to our business practices. Additionally, the development of alternative energy and storage facilities serves as an important boost to our growth and know-how. We look to the future with confidence: the high margins of these projects paves the way for us to achieve the ambitious operating and financial performance targets we have set and outlined in the five-year plan.”

Notes to editors

Renewable Power Capital is a London-headquartered pan-European renewables company established in 2020, with the backing of CPP Investments.

RPC invests in the development, construction, and long-term operation of onshore wind and solar projects, enabling the energy transition and driving stable long-term, risk-adjusted returns. RPC’s flexible mandate allows it to structure investments which recognise the changing market dynamics in Europe and create innovative solutions to build relationships designed for decades rather than months.

RPC is led by a seasoned and established team of energy industry professionals with deep renewable power, technical, and operational expertise, and a strong common purpose. RPC aims to pioneer the European renewables sector, accelerating the already-rapid growth and playing a key role in making the energy transition a reality.

For any questions or further information please contact Katie Davies at

Altea Green Power is a company engaged in the development and construction of environmentally friendly power generation plants and as a “service integrator”, addressing its expertise to individuals, businesses, entities and investors who seek all-round assistance during all the stages of construction and management for a broad range of plant types, especially in the areas of photovoltaics, wind, and BESS Storage, contributing to the reduction of pollution.

Established in 2008 by Giovanni Di Pascale as Altea Energia, in October 2021 it changed its name to Altea Green Power. Today, the Company boasts turnkey solutions for numerous photovoltaic and wind plants across Italy. Its current core business is co-development in wind, photovoltaics and Storage. To date Altea Green Power is developing over 1.5 GW of photovoltaic and wind projects and approximately 5.5 GW of BESS Storage projects. Its clients are some of the world’s top players.

Since February 1, 2022, it has been listed on the Euronext Growth Milan market of Borsa Italiana.