A European real estate investment platform is entering the market for advanced battery energy storage systems (BESS) with several large-scale energy storage projects in Romania.
According to a press release MetaWealth sent to AGERPRES on Tuesday, the first investment in BESS, worth EUR 22 million, will cover a total capacity of 130 megawatt-hours (MWh), consisting of a BESS system and standalone storage units to be operated under a co-location model. This includes a 100 MWh standalone battery system in Dumbrava, Neamt County, located close to existing grid infrastructure and renewable energy generation capacity, as well as 30 MWh of co-located storage to be installed at several locations connected to the existing electricity grid.
'This decision marks a new stage in MetaWealth's evolution from a platform focused on the real estate sector to a broader platform for investments in institutional-grade real assets, following the expansion of the portfolio to regulated capital market instruments and to investments backed by private financing receivables. Romania generates almost half of its electricity from renewable sources but has limited battery energy storage capacity. This imbalance has increased the need for flexibility at grid level, drawing the attention of institutional investors to energy storage systems as essential infrastructure rather than an emerging technology,' the release reads.
Company representatives underline that the first 30 MWh will become operational in the third quarter of this year, while the full 130 MWh capacity will be commissioned by the fourth quarter.
These projects also form the basis of a long-term strategy to develop a Romanian energy storage platform, with plans to build an additional capacity of around 650 MWh across several locations, with a total value of EUR 110 million.
In addition, the platform announced that in the coming months it will attract institutional investors and high-net-worth individuals, including through participation in MIPIM, one of the world's most important real estate events, held in Cannes in March this year.
According to official data, installed BESS capacity has recorded an average annual growth of almost 50% over the past decade and reached over 61 GWh by the end of 2024. Estimates show that this capacity will increase tenfold by 2030, according to a recently published report by SolarPower Europe.
MetaWealth is a European real assets investment platform founded in 2023, operating in Spain, Italy, Greece, Romania and Poland. The platform serves over 1,400 investors from 28 countries.
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