Sphera Energy is pleased to announce the beginning of its international expansion with the closing of a transaction to enter the German energy storage market.

Germany’s utility scale energy storage market is among Europe’s most active and promising, with substantial growth drivers ahead.

According to industry estimates, by 2030 the volume of battery-based energy storage in Germany is expected to ramp-up to 57 GWh. The deployment of large-scale storage systems will be critical for the energy transition in Germany.

Against the backdrop of decommissioning of baseload plants, surge in renewable generation and rising costs of fossil imports, the flexibility provided by storage will offset the high economic costs caused by increasing gas imports and the expensive curtailment of renewable generation.

Through this first transaction Sphera Energy is entering into a JV partnership with an experienced German solar developer to drive forward the development of a 500 MW / 1 GWh portfolio of standalone BESS projects which have been identified across multiple federal states.

We are very pleased to start activities in this dynamic market andlook forward to contributing to Germany’s Energiewende .

As always, feel free to reach out to us at: info@sphera-energy.com

About Sphera Energy

Sphera Energy is a clean energy platform focused on delivering utility-scale energy storage assets that accelerate decarbonization of the grid. Founded by a team of Renewable industry veterans, Sphera Energy benefits from decades of combined entrepreneurial and corporate experience in delivering investment grade projects and growing clean energy businesses.

At Sphera Energy we identify,originate, develop, finance and implement grid-scale battery energy storage projects. We work with landowners, local communities, industry leading technology providers and advisors to ensure our projects meet the strictest criteria of sophisticated international investors. We differentiate ourselves by managing the entire development lifecycle from the initial concept to delivery of shovel ready investable assets.

The company’s activities are primarily focused on the rapidly growing Italian market where in under 2 years since foundation Sphera Energy has become the leading independent market players with the largest advanced stage fully-owned project development pipeline. The company has also started international expansion into Germany, with plans to enter into 1 / 2 additional EU growth markets in the medium term.