Macquarie Capital has invested in Italian renewable energy developer Chiron Energy to establish a joint venture targeting at least 500MW of battery energy storage systems (BESS). The new independent power producer, Chiron Energy Power Generation, will be owned 51% by Chiron and 49% by Macquarie Capital. Paolo Pesaresi, founder and executive chairman of Chiron Energy, said: “With the creation of this important joint venture, we are taking the most significant strategic step in Chiron Energy’s history since its foundation. Claudio Gigli will serve as chief executive of Chiron Energy Power Generation, with Pesaresi as executive chairman. Macquarie Capital was advised by Rothschild & Co, Vector Renewables and Ashurst Perkins Coie.