OX2 Acquires 200 MW Puglia Battery Storage Projects

OX2, a prominent European renewable energy developer backed by EQT Infrastructure VI, has significantly expanded its Italian footprint by acquiring two substantial battery energy storage system (BESS) projects in Puglia. The deal, struck with Hanwha Energy Europe, a subsidiary of the South Korean conglomerate Hanwha, adds a combined 200 MW of storage capacity to OX2's burgeoning portfolio.

These two standalone BESS facilities, each rated at 100 MW with a 400 MWh capacity, represent a major investment in Italy's energy storage infrastructure. Construction is slated to commence in the second quarter of 2027, with commercial operation expected by the end of 2028. This strategic acquisition underscores OX2's commitment to developing integrated renewable energy solutions across Italy, complementing its existing wind and solar projects.

The Italian energy storage market is experiencing rapid growth, driven by the increasing penetration of intermittent renewable sources and the need for grid stability. According to recent industry reports, the European BESS market is projected to grow at a CAGR of over 20% in the coming years, with Italy emerging as a key growth region due to supportive regulatory frameworks and ambitious decarbonization targets. OX2's move positions it advantageously within this dynamic sector.

Paolo Tusa, Country Manager for OX2 Italy, highlighted the significance of the acquisition: "This acquisition is a crucial addition to our Italian storage portfolio. It represents another stride in OX2's ongoing expansion within the Italian market, encompassing onshore wind, solar, and energy storage." This statement reflects OX2's integrated approach to renewable energy development.

With this latest transaction, OX2's Italian development pipeline now totals approximately 1.5 GW, encompassing a diverse mix of wind, solar, and BESS projects. Notably, the acquired facilities are located in Puglia, a region that has become a focal point for renewable energy investments in Italy. OX2's established presence in the country includes the successful delivery of its first Italian project, the 27 MW Maia wind farm in Foggia, to Nuveen Infrastructure in September 2025.

OX2, founded in Sweden in 2004, manages a global portfolio of approximately 33 GW across development, construction, and operational phases. The company's acquisition by EQT Infrastructure VI in 2024, followed by its delisting from Nasdaq Stockholm, marked a significant milestone, enabling further strategic investments and expansion into key markets like Italy. The deal was advised by L&B Partners on behalf of Hanwha Energy Europe.