KKR-backed ContourGlobal acquires energy storage projects in Italy
ContourGlobal
has acquired
battery energy storage systems
in Italy with a combined power capacity of around 1.6 gigawatt and storage durations of up to eight hours, the energy company owned by U.S. investment firm
KKR
said on Thursday.
Why It's Important
The battery projects, once fully developed, will position ContourGlobal for the first Italian auction, scheduled for September, in which the country will buy storage capacity to enhance use of renewable energy.
Context
Europe's
battery storage capacity
is expected to grow around five-fold by 2030, bringing with it increasing returns for energy majors, project developers and traders, as the cost of new projects falls.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News18
an hour ago
- News18
Italian PM Urges EU To Avoid Trade War With US 'At All Costs' Amid Trump Tariff Talk
Last Updated: Her remarks came in response to Trump's announcement that goods imported into US from EU and Mexico would face 30% tariffs from Aug 1 Italian Prime Minister Giorgia Meloni on Tuesday said European nations must do everything possible to avoid a trade war with the United States 'at all cost" ahead of looming US tariffs. Speaking at a joint press briefing with Austrian Chancellor Christian Stocker in Rome, Meloni said she and Nehammer had discussed ongoing trade talks between the European Union and the US. 'We agree that we must, at all costs, avoid a trade war between the two sides of the Atlantic," Italian PM said. Italian Prime Minister Giorgia Meloni calls for a trade deal between the EU and the US before August to prevent a transatlantic 'trade war." #Meloni #US — Al Arabiya English (@AlArabiya_Eng) July 15, 2025 Meloni further stated that Italy and Austria would stay in close contact with the European Commission and continue working towards a 'mutually beneficial" agreement that should ideally be finalised before 1 August. 'We will continue together and in constant contact with the Commission, to work towards an agreement that can be mutually beneficial and must be concluded before next August 1," she added. A day earlier, Meloni had issued a statement warning that a trade conflict between Western allies would only weaken them in the face of shared global challenges. She said Europe had the economic and financial strength to assert its position and secure a fair deal. 'Italy will do its part, as always," she added. Her remarks came in response to US President Donald Trump's announcement on Saturday that goods imported into the US from the EU and Mexico would face 30% tariffs from 1 August. The move has sparked concern across European capitals and fuelled calls for a coordinated EU response. Meloni has come under fire at home from opposition parties. Giuseppe Conte, leader of the Five Star Movement and a former prime minister, accused her of 'bowing her head" to pressure from the US. Critics say her government is not doing enough to defend Italy's interests as trade tensions escalate. In Brussels today, EU trade ministers met to discuss the issue and described Trump's tariff plan as 'absolutely unacceptable". The bloc is now considering countermeasures, though officials say they remain hopeful of reaching an agreement with Washington. (With inputs from agencies) view comments Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
News18
2 hours ago
- News18
After Chappal Row, Prada Team Lands In Kolhapur To Meet Local Artisans
Last Updated: The visit comes after Prada faced criticism for allegedly showcasing Kolhapuri-style sandals in its Spring/Summer 2026 menswear show in Milan A team from Italian luxury fashion brand Prada on Tuesday visited Kolhapur, Maharashtra, and met with local artisans who craft the traditional Kolhapuri chappals. The visit comes after Prada faced criticism for allegedly copying the design of these famous handmade leather sandals. Many accused the brand of cultural appropriation and failing to acknowledge the Indian artisans who have preserved this age-old craft. Supported by the Maharashtra Chamber of Commerce, Industry and Agriculture (MACCIA), the Prada technical team from Italy arrived in Kolhapur and was hosted by MACCIA President Lalit Gandhi. Kolhapuri chappals are known for their unique style, strength, and traditional craftsmanship. Handmade for over a century in the Kolhapur region of Maharashtra and parts of Karnataka, they have become an iconic part of Indian fashion heritage. These sandals also hold Geographical Indication (GI) status, which protects their identity and prevents unauthorised use or imitation. The GI tag legally recognises the craft's cultural and regional importance. During their visit, the Prada team toured local workshops and interacted with the craftsmen. This comes shortly after Prada announced plans to launch a Kolhapuri-inspired collection in collaboration with local artisans. The row began after Prada showcased sandals resembling Kolhapuri chappals in its Spring/Summer 2026 menswear collection at a Milan fashion show on 23 June. The sandals were simply labelled as 'leather sandals" with no mention of their Indian origin. MACCIA President Lalit Gandhi had raised concerns and wrote to Prada, urging the brand to publicly acknowledge the inspiration and explore fair collaborations with local artisans. He also highlighted the need for ethical fashion practices that respect cultural heritage. Responding to the backlash, Lorenzo Bertelli, a senior representative from Prada, said the company acknowledged the inspiration came from traditional Indian handcrafted footwear and appreciated its cultural significance. However, Prada clarified that the sandals shown on the runway are still in the design phase and are not confirmed for commercial release. (With inputs from agencies) view comments First Published: July 15, 2025, 22:33 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
&w=3840&q=100)
Business Standard
2 hours ago
- Business Standard
Prada team lands in Kolhapur to engage artisans after Milan sandal row
Following an online backlash over 'cultural appropriation' for featuring Kolhapuri sandals at its Milan show, a delegation of executives from Italian luxury label Prada on Tuesday reached Kolhapur, Maharashtra, to engage with local artisans, Mint reported. The visiting team includes Andrea Boscaro, director of collection development for Prada and Miu Miu footwear; Paolo Tiveron, head of the men's technical and production department; and Daniele Contu, pattern-making manager. All three are from Prada's footwear division. External consultants Andrea Pollastrelli and Roberto Pollastrelli are also part of the delegation, the company told Mint. According to Lalit Gandhi, president of the Maharashtra Chamber of Commerce, Industry and Agriculture (MACCIA), the team is visiting for two days. 'The technical team will evaluate the process of making Kolhapuri chappals, share their experience, and outline expectations as per Prada's requirements. They will also visit artisan clusters involved in traditional footwear making,' he said. The visit follows a virtual meeting held last week between MACCIA and Prada to discuss concerns raised over the collection shown in Milan. During the meeting, Prada expressed interest in launching a limited-edition, made-in-India Kolhapuri-inspired line in collaboration with local craftsmen, according to MACCIA. Kolhapuri chappal–Prada controversy The row began after Prada revealed leather sandals at Milan Fashion Week that closely resembled Kolhapuri chappals. Part of its Spring/Summer 2026 menswear line, the sandals were reportedly priced at around ₹1.2 lakh. The design drew criticism for ignoring the cultural and craft-based roots of the original footwear. Prada later said the style was 'inspired by Indian craftsmanship', but that statement came only after public criticism intensified. Kolhapuri chappals, known for their toe-strap design and handmade leatherwork, are a traditional form of footwear from Maharashtra and Karnataka. The chappals also carry a Geographical Indication (GI) tag under the Geographical Indications of Goods (Registration and Protection) Act, 1999. Last week, intellectual property rights advocate Ganesh S Hingmire filed a public interest litigation in the Bombay High Court, alleging that the Milan showcase amounted to cultural misappropriation and unauthorised commercial use of a GI-tagged product.
