Expansion of energy storage for renewable sources
Primeo Energie founds Primeo Battery AG to develop and operate large-scale batteries for renewable energies throughout Switzerland. The batteries are intended to compensate for weather-related fluctuations and promote the energy transition.
Primeo Energie intends to build and operate large-scale batteries throughout Switzerland via a subsidiary in future. As the Basel-based energy supplier has announced, it has founded Primeo Battery AG, also based in Münchenstein, together with the Clean Energy Infrastructure Switzerland 3 (CEIS 3) fund.
Large-scale batteries can compensate for weather-related fluctuations in the production of electricity from renewable sources. Primeo Energie is contributing its expertise in the development and implementation of energy transition projects and the marketing of large-scale batteries, according to the press release.
CEIS 3 was launched jointly by Swiss Life Asset Management and UBS and is aimed exclusively at institutional investors. At its launch in November 2022, it had over CHF 772 million from 38 investors.