Eni Bets €55 Million on Italian Battery Supply Chain Expansion
Eni is expanding its push into battery manufacturing and energy storage through a new partnership with Italy's Seri Industrial, as Europe races to build a domestic battery supply chain and reduce its reliance on Asian imports.
The Italian energy major will invest €55 million in a joint venture with Seri subsidiary FIB to develop lithium iron phosphate (LFP) batteries, a technology increasingly used in grid-scale energy storage systems. The partners plan to build an integrated battery business spanning cell production, battery assembly, and, eventually, recycling operations, targeting more than 10% of Europe's stationary battery market.
The project centers on FIB's Teverola facility in southern Italy, where an LFP battery cell plant is already operating. Eni Storage System, jointly controlled by Eni Industrial Evolution and FIB, plans to complete a utility-scale battery energy storage system assembly line by the first half of 2027 and develop a second gigafactory capable of producing more than 8 GWh of battery cells and modules annually by 2029.
The deal strengthens Eni's position in Europe's rapidly growing energy storage sector as utilities increasingly deploy batteries to support renewable power generation and improve grid reliability.
By Charles Kennedy for Oilprice.com
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