06:34 AM EST, 12/23/2024 (MT Newswires) -- Emeren Group ( SOL ) said Monday it has closed the second round of its battery energy storage system portfolio with Arpinge, a financier of sustainable energy infrastructure projects in Italy.

The round includes two projects located on the island of Sicily, Italy, with a total capacity of 162 megawatts, or about 1.4 gigawatts per hour, the company said.

The project, along with a 300 megawatt project announced last month, completes the portfolio under a development service agreement, a type of contract that helps Emeren ( SOL ) monetize its development expertise by partnering with investors, the company said.