Giga Storage has closed financing for its large-scale “Albatross” battery energy storage system near Neuenkirchen in Lower Saxony, Germany. A consortium of seven banks is providing the Dutch developer with €260 million ($281 million) in debt capital for the project. Construction is scheduled to begin in early 2027, while commissioning is planned for early 2029.
The project will have a power output of 350 MW and capacity of 1.4 GWh, with a four-hour duration. The grid connection agreement with Amprion has also been signed. Commissioning is now scheduled for early 2029.
The participating lenders in the financing round are ABN Amro, Hamburg Commercial Bank, ING, Rabobank, Siemens Financial Services via Siemens Bank, SMBC, and Société Générale. Giga Storage had previously announced in early October that the project had reached ready-to-build status. At that time, the company still expected the final investment decision in the fourth quarter, and commissioning was originally slated for 2028.
Meanwhile, Giga Storage also signed a grid connection agreement with German transmission system operator (TSO) Amprion, and the agreement was concluded on October 14. Amprion stated that this marks the company’s first grid connection contract for a large-scale battery storage facility. The system will be connected directly to the 380 kV transmission grid at the Merzen substation.
The storage facility will consist of 264 battery containers, 96 medium-voltage transformers, and two high-voltage transformers. According to Giga Storage, CATL will handle the engineering, construction, and maintenance of the facility, working alongside several European subcontractors.
“Albatross” is Giga Storage’s first utility-scale storage project in Germany. Together with its “Leopard” project in the Netherlands and the “Green Turtle” project in Belgium, the company states that it currently has storage projects with a combined output of around 1.4 GW and a total capacity of 5.6 GWh under construction.
The post Giga Storage secures financing, grid connection for 1.4 GWh CATL BESS project in Germany appeared first on Energy Storage.
