(Alliance News) - Redelfi Spa announced Monday that it has signed, through its wholly owned U.S.-registered subsidiary Redelfi Corporation, with Elio Energy Group LLC, a U.S. developer already a partner in BESS Power Corporation, the operating agreements to develop an additional 2.4 GW of Battery Energy Storage System projects in the U.S. territory.

The new pipeline will be developed by the U.S.-registered newco Redelio Renewables LLC, in which Redelfi Corp. and Elio Group hold a 50 percent stake, respectively.

Davide Sommariva, chairman of Redelfi's board of directors, commented, "The successful collaboration and human relationship built with Elio Group over the past year led us to this strategic choice to expand Redelfi's presence in America. The bond created between the skills of the two teams, has resulted in a solid and fruitful working relationship. We trust that this cooperation can continue, leading us to hit an important goal of the business plan shared with the market."

Redelfi is 1.1 percent in the red at EUR5.31 per share.

By Claudia Cavaliere, Alliance News reporter

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