11:15 AM EST, 11/05/2024 (MT Newswires) -- Emeren Group ( SOL ) said Tuesday it has struck an agreement with Arpinge to jointly develop a 300 megawatt battery energy storage system portfolio in southern Italy.

Financial terms weren't disclosed.

Arpinge is a permanent capital vehicle set up as a joint-stock company by three Italian pension funds to invest in infrastructure.

Shares of Emeren ( SOL ) rose by more than 2% in recent trading.

Price: 2.52, Change: +0.05, Percent Change: +2.02