Renewable energy and battery storage developer Aukera has closed a €460 million (US$534.23 million) structured credit facility to advance its project pipeline in five European markets.
Aukera, which develops battery energy storage system (BESS), solar PV and hybrid or co-located solar-plus-storage projects to own and operate, announced the closing of the financing last week (2 September).
Washington D.C.-headquartered US institutional investor EIG was lead investor in a facility that originally included a €200 million investment commitment with an accordion feature of up to €250 million. The accordion feature has now been amended into a €260 million Series 2 tranche, hence the total €460 million committed.
Aukera was founded in Brussels, Belgium, backed by Belgian energy investor AtlasInvest, Dutch family office Reggeborgh and Belgian sovereign wealth fund SFPIM. Aukera currently operates in the UK, Romania, Belgium, Germany and Italy.
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The company said the latest investment enables it to move into the next phase of growth in developing, financing, constructing and operating assets at scale.
It has close to a gigawatt of projects in construction or operation. Its flagship project is the 250MW/500MWh Gura Ialomitei standalone BESS in Romania. The first 150MW/300MWh phase of Gura Ialomitei reached commercial operation in June 2026, and Aukera raised financing from the World Bank’s International Finance Corporation (IFC) for the second phase a month later.
Financial close was reached on the developer’s next biggest project so far, the 170MW/340MWh Project Volt BESS in La Louvière, Belgium, at the beginning of this summer. Developed in a joint venture with Weerts Group, Project Volt BESS has a 15-year contract with Belgium’s Capacity Remuneration Mechanism (CRM) capacity market.
The company received local planning approval in the UK for a 250MW/1,000MWh BESS project in September 2025. The City of York council in northern England said the project’s overall environmental benefits outweighed harm it would do to local conservation.
Aukera co-founders Catalin Breaban and Pascal Emsens said they believe “Europe needs to at least quadruple its battery storage capacity to reach the European Union’s (EU’s) 200GW target by 2030.”
“That requires not just capital, but teams and platforms that can deliver complex infrastructure repeatedly, on time, on budget and across multiple markets. This facility with EIG gives Aukera the financial depth to do exactly that.”
