In a major week for European BESS deal-making, project acquisition and financing deals have been completed in Poland, Germany, Finland, the UK and Romania for grid-scale projects totalling well over 1GW of capacity.
Northland Power buys 300MW of Poland BESS
Developer-operator Northland Power has acquired two pre-construction battery energy storage system (BESS) projects totaling 300MW/1.2GWh in Poland from peer Greenvolt Power Group.
The projects, in Mieczysławów (200MW/800MWh) and Kamionka (100MW/400MWh), are both 4-hour duration systems located in western Poland.
The projects will require investment of approximately €200 million (US$230 million) from Northland. Revenue will come through 17-year capacity market (CM) auction contracts indexed to inflation, with additional income expected from energy arbitrage and ancillary services.
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Construction, financing and groundbreaking are targeted for 2026. The press release didn’t specify when the projects would come online, but they are likely part of the 1.2GW portfolio of projects that Greenvolt won CM contracts for in 2023, which are required to be operational by 2028.
Northland has been primarily active to-date in Canada, where it put a 1GWh BESS into operation in March, the largest in the country at the time.
Econergy expands German market presence with 435MW option
Israel-headquartered Econergy has signed an option agreement to acquire two grid-approved BESS totaling 435MW in Bad Lauchstädt, Saxony-Anhalt, Germany.
The projects are currently in the final stages of obtaining construction permits. Econergy UK, approximately 75% owned by Econergy Renewable Energy Ltd., has secured rights to acquire 100% of the German company holding both facilities, with the option exercisable until 1 April 2026. Construction is expected to begin by end of 2026. It didn’t reveal the selling party.
The German expansion builds on Econergy’s European activities, including the recent construction start of its first 100MW BESS project in Germany, in Senftenberg. Combined with the new option agreement, Econergy’s German portfolio could reach 535MW of storage capacity.
In related German news, Netherlands-headquartered Return has announced the financing for a 13MW/29MWh Brietlingen, Lower Saxony, scheduled for completion by the end of 2026.
Deutsche Anlagen-Leasing (DAL) and its financing partner Deutsche Leasing Finance are providing the project finance. It follows Return securing €300 million for its overall buildout across Europe.
Olana Energy extends Finnish fleet to 65MW
In the case of developer-operator Olana Energy, it has decided not to sell two projects in Finland, which bring its total capacity there to 65MW.
It didn’t reveal the size of the two projects, in Pieksämäki and Gunnarsnäs, but said it has 25MW of already-operational batteries in the country, meaning the two total 40MW.
The firm said it made a strategic decision to retain ownership of the projects that have been under construction since last summer.
It is doing its own engineering, procurement and construction (EPC) and operations and management (O&M) on the projects. Both will be online by the end of 2026.
It is also building its own project in Lithuania, a 70MW/140MWh system.
Gresham House Energy Storage Fund agrees 100MW/200MWh UK BESS deal
Gresham House Energy Storage Fund (GRID) has announced the signing of a sale and purchase agreement for the conditional acquisition of a 100MW/200MWh battery storage system in England, UK.
The project, located in Elland, West Yorkshire and referred to as Elland 2, has a 2-hour duration and will be extendable to a longer duration “in due course”, according to GRID. The company is the biggest UK-listed fund investing in utility-scale BESS.
Elland 2 is adjacent to an operational site, Elland 1, already owned by GRID. According to Ben Guest, fund manager of GRID and managing director of the more broadly focused Gresham House Energy Transition, said that the company intends to begin construction of Elland 2 “within the next few months”.
“Once finished, this project, with a capacity of 100MW/200MWh, will be larger than any other in the current operational portfolio,” Guest added.
See the full original version of this article on Solar Power Portal.
Aukera secures finance for 250MW/500MWh project in Romania
In Romania, developer-operator Aukera Energy has secured a €60m debt facility from Kommunalkredit Austria AG to finance the construction of its first standalone BESS in Romania.
The 250MW/500 MWh project is located in Gura Ialomitei, Ialomita County, and will be delivered in two phases. Phase 1 construction is underway and the full project is expected to be operational by mid-2026. Kommunalkredit acted as Sole Mandated Lead Arranger.
