Nuveen expands Southern Europe portfolio with 770MW Italian wind and battery buy
Subscribe to our free newsletter today to keep up to date with the latest renewable energy news.
Nuveen Infrastructure has deepened its European clean energy footprint with a major acquisition of wind and battery assets in Italy, marking a pivotal step in its strategy to build a 3 gigawatt renewable portfolio across Southern Europe. The deal, executed through its independent power producer Verdian, adds more than 770 megawatts of new capacity to its pipeline, with a focus on regional diversification and technological integration.
The acquisition includes six wind projects totaling up to 493 megawatts across the central and southern regions of Latium, Apulia and Tuscany. These projects are supported by 144 megawatts of integrated storage, highlighting the company’s drive toward hybridized systems that support grid flexibility. In addition to the wind portfolio, Verdian has secured 280 megawatts of battery storage capacity across three projects, including a significant eight-hour duration standalone system planned for Campania.
This move builds on a series of recent acquisitions and positions Verdian as a growing player in Italy’s clean energy transition. According to Nuveen, these newly acquired assets are at various stages of development and include fully permitted battery systems in Puglia. Construction is expected to begin in 2026, with commercial operation projected by late 2027.
Francesco Cacciabue, global head of clean energy investment at Nuveen Infrastructure, said the transaction reflects the firm’s commitment to building resilient infrastructure in high-growth energy markets. “We are delighted with the progress achieved this year through our Clean Energy Strategy, marked by a series of landmark transactions in Italy that reflect both the momentum of our investment thesis and our unwavering commitment to advancing renewable energy development across Southern Europe,” he said.
Verdian’s clean energy model finds its footing
The addition of long-duration storage assets enhances Verdian’s value proposition. Energy storage is increasingly seen as essential to balancing intermittent renewables, particularly in markets like Italy where solar and wind resources are abundant but grid systems face stress during periods of volatility. Nuveen’s hybrid strategy aligns with evolving EU directives that favor grid-interactive clean energy developments and flexibility services.
Verdian’s portfolio now spans multiple technologies and geographies, reflecting its ambition to become one of the largest vertically integrated renewable operators in the region. The company’s development model prioritizes co-located systems, which allow wind or solar generation to feed directly into on-site battery assets. This approach reduces curtailment risk, increases market participation flexibility and supports higher returns for investors.
Italy’s storage opportunity gains momentum
Italy’s renewable energy sector continues to draw institutional interest. In recent quarters, firms like Glennmont Partners, Penso Capital and NextEnergy have launched or expanded utility-scale solar and storage projects across the country. These moves follow national policy reforms aimed at simplifying permitting, strengthening the capacity market framework and accelerating the deployment of renewables in line with European climate targets.
While Italy has seen strong solar growth, storage has become a particular area of focus in 2025. The market is expected to reach over 20 gigawatt-hours of installed battery capacity by the end of the decade, driven by the need for load balancing, ancillary services and time-shifting capabilities. Verdian’s eight-hour Campania system is one of a small number of long-duration projects currently under development, positioning the company to benefit from both regulatory incentives and future capacity market revenues.
Building resilience across southern Europe
For Nuveen, the acquisition complements a broader thematic strategy to direct capital into climate-aligned infrastructure assets that deliver both impact and income. Its infrastructure arm has been expanding across Europe with deals in wind, solar, distributed generation and energy efficiency, supported by a global investor base increasingly focused on sustainable outcomes.
As renewable deployment accelerates, flexibility becomes a critical component of energy security. Projects like those added to Verdian’s portfolio offer system-level benefits, including reduced reliance on gas peaker plants and improved integration of variable resources. These outcomes align with EU objectives and domestic Italian energy policy, which has identified grid resilience as a top priority.
This acquisition not only scales Verdian’s operations but also signals Nuveen’s continued confidence in Italy as a core market for clean energy growth. With permitting and land constraints easing and a maturing storage policy framework taking shape, the country offers a dynamic environment for infrastructure investors seeking long-term, inflation-linked returns.
The expansion also enhances Verdian’s competitive positioning in an increasingly consolidated market. As asset aggregation becomes more common and auction prices tighten, platforms that combine development expertise with diversified asset types are likely to attract premium valuations. Verdian’s ability to integrate wind, solar and battery storage gives it optionality across merchant and contracted revenue streams, as well as a potential advantage in future regulatory mechanisms like capacity auctions or grid services tenders.
Nuveen’s latest acquisition represents more than megawatts on paper. It reflects a strategy built on regional focus, asset-class depth and execution capability. As the energy transition enters a more complex phase where flexibility and scale are equally vital, this portfolio is designed not only to deliver clean electrons, but also to support the structural evolution of Europe’s power systems.