Magnora ASA ( (SVMRF) ) has issued an announcement.
Magnora ASA’s Italian operations have secured land with grid indications in strategic areas for upcoming Battery Energy Storage Systems (BESS) auctions. This move positions Magnora Italy to potentially generate early cash flow by partnering with energy companies or infrastructure funds. The Italian grid operator, TERNE, is stabilizing the grid as solar PV becomes more prevalent, highlighting the importance of BESS, especially in regions like Sardinia and Sicily. Magnora’s co-development partner in Puglia has identified a 250MW portfolio with strong potential for success in the MACSE auctions anticipated in late 2025, which have garnered significant interest and promise reasonable developer margins.
More about Magnora ASA
Magnora ASA is a renewable-energy group that develops wind, solar, and battery storage projects. The company operates in Europe and Africa through various portfolio companies and is listed on the Oslo Stock Exchange under the ticker MGN.
YTD Price Performance: -12.24%
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $141.2M
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