NEW GREEN ENERGY DEVELOPER REDELIO RENEWABLES LLC ESTABLISHED TO REACH 2,4 GW OF BATTERY ENERGY STORAGE SYSTEMS (BESS) IN THE U.S.

NEWARK, Del., July 16, 2024 /PRNewswire/ -- Redelio Renewables LLC, a new green energy developer, has been established with the ambitious goal of developing up to 2,4 GW of Battery Energy Storage Systems (BESS) in the United States. This strategic initiative marks a significant contribution to the renewable energy sector, aiming to support the transition to sustainable energy solutions.

Redelio Renewables is a joint venture formed through a partnership between Redelfi S.p.A. ("Redelfi") and Elio Energy Group LLC ("Elio Group"). Redelfi, headquartered in Italy and listed on the Euronext Growth segment of the Italian Stock Exchange, is a leading company of green energy sector renowned for the development of its stand-alone BESS infrastructure projects in Italy and U.S., with two active pipelines of 4,3 GW in Italy and 1,2 GW in the U.S.. Elio Group, is a prominent utility-scale renewable project developer, with an active pipeline of 7 GW. Elio supports traditional greenfield development to de-risk projects, providing 100% focus while better managing costs, and has deep expertise in EPC and project lifecycle management to assure development success. Focused on the North America market, Elio Group brings extensive experience and market knowledge in the sector and has previously collaborated with Redelfi on various successful projects.

The newly established entity will leverage the combined strengths of Redelfi and Elio Group to develop a robust pipeline for a power of up to 2,4 GW of BESS projects across the U.S. With 920 MW capacity already identified in the pipeline across projects in Texas, Tennessee, Alabama and Kansas, Redelio Renewables aims to enhance energy storage capabilities and promote renewable energy usage.

Redelio Renewables will adopt a comprehensive approach, with Redelfi focusing on financing, project management, financial oversight, and development monitoring, while Elio Group will lead the technical and operational activities.

"Redelio Renewables is the result of a prolific collaboration with Elio Energy Group. The bond created between the skills of the two teams, has resulted in a solid and fruitful working relationship for which we are confident will lead to the achievement of this ambitious development goal." said Davide Sommariva, Chairman of the Board of Directors of Redelfi S.p.A

Daven Mehta, CEO of Elio Group, added: "As an independent developer with 20+ years of industry expertise within the company, we are dedicated to bringing unique insights and innovative perspectives to every engagement. The establishment of Redelio Renewables aligns with our goal to deliver excellence across projects and is a testament to our ongoing efforts in identifying key markets and working closely with the local communities to ensure long-term success."

Pandelis Vassilakakis, President of Redelio Renewables, further emphasized: "By forging this partnership, Redelio Renewables is committed to be at the forefront of the clean energy transition. This collaboration between Redelfi and Elio Group is an illustrative example of how key energy players in the market can join forces to achieve the common goal of advancing green energy solutions while enhancing shareholder value." 

Visit www.redeliorenewables.com for more information.

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About Redelio Renewables

Redelio Renewables LLC is a green energy developer dedicated to bringing innovative Battery Energy Storage Systems (BESS) in the United States. The joint venture between Redelfi S.p.A. and Elio Energy Group LLC focuses on accelerating and supporting the green transition by enabling smarter sustainable solutions that can reduce environmental impact and meet the ever-increasing power demand. 

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SOURCE Redelio Renewables LLC