Finance the development of a portfolio of battery projects in Italy
The AGE Storage Italy project, developed by the Alternative Green Energy group, aims to finance the development costs of 7 BESS projects in Italy. The projects are spread across 3 geographical areas and the installed capacity totals 688 MWp.
This portfolio helps support the availability of flexible electricity production capacities to ensure the security of the network’s supply.
The AGE Group is seeking to raise a first tranche of 1,000,000 €.
The offer
Invest in the growth of energy storage in Europe
The Alternative Green Energy Group offers an investment opportunity in the financing of AGE Storage Italy, a portfolio of 7 battery projects grouped within the French company AGE Energie I, which holds each Italian SPV project.
Here is the legal structure scheme:
The crowdfunding operation by the AGE Group aims to raise up to 2,500,000 euros in the form of simple bonds. This first tranche aims to raise 1,000,000 euros. The debt is senior.
The repayment of the bonds will be made through the sale of the assets.
Investors benefit from a guarantee which is the pledge of 100% of the shares of each Italian SPVs (7).
Specifications
Investment phases
- Investment open to everyone
End of project financing
Resources
Simulator
Investment simulation
AGE Storage Italy - Obligation 9.5%/year over 2.5 years
Simulation - Rate : 9.5% / year on 2.5 ans
Initial investment:
€5,000
Repayments and interest:
€6,187.5
In 3 transfers
| Date | Interest* | Capital | Amount |
| 30/11/2026 | €475 | €0 | €475 |
| 30/11/2027 | €475 | €0 | €475 |
| 30/05/2028 | €237.5 | €5,000 | €5,237.5 |
| Total | €1,187.5 | €5,000 | €6,187.5 |
*Gross interest before tax, including all fees (view taxation) The result presented is not a forecast of the future performance of your investments. It is only intended to illustrate the mechanics of your investment over the investment period. The evolution of the value of your investment may vary from what is shown, either increasing or decreasing. | |||
The project
The BESS Project Portfolio
The sites have been secured for all projects
Regarding grid connection, all STMG files have been submitted to the competent authority:
-
Payment (corresponding to 30% of the final amount) has been made for the following projects: Ariano II, Manciano I, Manciano II, Manciano III and Villalba I
-
The files for the projects Ariano I and Villalba II have been accepted, but payment has not yet been made.
The promoter expects project authorization to begin in early 2027.
The location of the projects is strategic, located in key regions where they will actively contribute to local energy balance.
From a technical and environmental perspective, preliminary analyses and studies have revealed no major issues.
Characteristics of the 7 BESS projects (Ariano, Manciano, Villalba):
-
Capacity: 97 to 100 MW / 505 MWh each
-
Discharge duration: 4 hours
-
Technology: LFP + Li-ion
-
Lifespan: 20 years
-
Efficiency (round-trip): > 95%
-
Response time: < 250 ms
-
Adapted to services: frequency and balancing
-
Key advantages: high efficiency, high reactivity, thermal stability
| Project | SPV | Location | Area (km²) | Distance to connection point (km) | Substation and voltage levels | Site | Connection status | Planned commissioning |
|---|---|---|---|---|---|---|---|---|
| Ariano I | SPV1 Srl | Ariano Irpino | 2 - 2.5 | 1.63 | TERNA 150/36. Connection at 36kV | Secured | STMG accepted (payment pending) | May-27 |
| Ariano II | Ariano II BESS Srl | Ariano Irpino | 2 - 2.5 | 1.63 | TERNA 150/36. Connection at 36kV | Secured | STMG accepted (30%) | Apr-27 |
| Manciano I | Manciano BESS 1 Srl | Manciano | 2 - 2.5 | 0.85 | TERNA 150/36. Connection at 36kV | Secured | STMG accepted (30%) | Apr-27 |
| Manciano II | Manciano BESS 2 Srl | Manciano | 2 - 2.5 | 0.85 | TERNA 150/36. Connection at 36kV | Secured | STMG accepted (30%) | Apr-27 |
| Manciano III | Manciano BESS 3 Srl | Manciano | 2 - 2.5 | 0.85 | TERNA 150/36. Connection at 36kV | Secured | STMG accepted (30%) | May-27 |
| Villalba I | Villalba BESS Srl | Villalba | 3.2 | 2 | TERNA 150/36. Connection at 36kV | Secured | STMG accepted (30%) | Jun-27 |
| Villalba II | SPV2 Srl | Villalba | 3.2 | 2 | TERNA 150/36. Connection at 36kV | Secured | STMG accepted (payment pending) | Jun-27 |
Energy and Regulatory Context – Italy
Since abandoning nuclear power in the 1980s, Italy has heavily relied on energy imports. To strengthen its energy sovereignty, the country is pursuing an ambitious transition: reducing fossil fuels, increasing renewable energy, and developing battery storage.
Two key mechanisms support this transition:
-
The capacity market, which compensates production or flexibility means that can be mobilized in case of consumption peaks, to ensure supply security.
-
The MACSE, implemented by Terna, which guarantees real-time balance of the electrical network against the intermittency of renewable energies, by contracting flexible capacities such as batteries.
These two tools are complementary: one acts in the long term, the other provides daily operational support.
Principle of Operation of a Battery Park
The operation of a battery park is based on two principles: absorbing (charging) energy from the grid during periods of high renewable energy production, and injecting (discharging) the stored energy when renewable production is limited.
Project owners
Alternative Green Energy (AGE), a Spanish company specializing in the development of large-scale renewable energy projects. Founded in 2015 and based in Barcelona, AGE is a recognized player in the sector, with over 15 years of experience. It now has offices in 13 countries across 5 continents, giving it a strong international reach.
AGE primarily develops and builds ground-mounted solar photovoltaic plants, but is also active in other strategic areas such as battery energy storage systems (BESS), onshore wind, and the production and distribution of green hydrogen. Its approach is based on an integrated vision of the energy transition, combining production, flexibility (through storage) and infrastructure.
The company has a portfolio of 13.5 GW of projects under development in 12 countries, and has already commissioned more than 3 GW of installed capacity. It also holds exclusive rights to a global portfolio of over 10 GW of solar projects at an advanced stage of development.
What sets AGE apart is its ability to intervene throughout the value chain of a project, from site identification to commissioning and operation. The company manages in-house the technical aspects (engineering, sizing, technology choices), regulatory aspects (permits, connection), financial aspects (modeling, fundraising) and operational aspects (construction and management).
Its presence in many regions of the world, particularly in Southern Europe (Spain, Italy, Greece), Latin America, North Africa and Asia, allows it to adapt to local specificities while relying on proven industrial know-how.
AGE thus brings solid technical expertise, recognized execution capacity and a long-term vision of the energy transition. Its involvement in the development of solar and storage projects, in direct line with the challenges of network flexibility, makes it a reliable project carrier perfectly aligned with the objectives of the Italian market.
Our analysis
Risk overview
Counterparty risk
Risk of counterparty payment default that would jeopardize the project's cash inflows
Mitigation methods
- Careful selection of partners (consultants, equipment suppliers, etc.). - Conducting detailed market studies incorporating various price scenarios for electricity and system services in Italy. - Prior obtaining of all necessary permits. - Preparation of a business plan with conservative / base / optimistic scenarios.
Country risk
Risk of policy change
Mitigation methods
The renewable energy sector in Italy enjoys strong political support from a broad segment of the political class, with government initiatives aimed at accelerating the energy transition. The country is committed to achieving carbon neutrality by 2050, increasing the share of renewables in its electricity and energy mix, which remains highly carbon-intensive today. Significant investments are also planned to modernize infrastructure and the grid in order to integrate more green energy sources, particularly through energy storage projects and incentives for energy communities. In the storage sector, centralized decision-making and streamlined permitting procedures enable more efficient processing of applications.
Refinancing risk
Credit risk related to the company's ability to refinance and meet its debt obligations.
Mitigation methods
AGE has a proven track record in structuring financing for similar projects. The guarantees are provided in the form of a pledge on the project shares. In the event of default, these guarantees could be enforced for a value exceeding the amount raised, providing effective protection for investors.
Operating risks
Technological risk that the system will not perform as expected, or that performance will degrade more rapidly than anticipated.
Mitigation methods
All land plots have already been secured. All STMG applications have been submitted and accepted. Some projects have been partially declassified. Technical and environmental studies have been carried out, revealing no major issues. AGE's teams have strong expertise and experience in the development of renewable energy projects. The presented project portfolio is at an intermediate stage of development.
Investing in this participatory financing project involves risks, including the risk of total or partial loss of the capital invested. Your investment is not covered by the deposit guarantee schemes established in accordance with directive 2014/49/EU of the European Parliament and of the Council. Your investment is also not covered by the investor compensation schemes established in accordance with Directive 97/9/EC of the European Parliament and of the Council. Return on investment is not guaranteed. This is not a savings product, and we recommend that you not to invest more than 10% of your net assets in participatory finance projects. You may not be able to sell the investment instruments when you wish. If you are able to sell them, however, you may incur losses.
