In Neuenkirchen, Lower Saxony, one of Germany's largest battery storage projects currently underway is taking concrete shape. Project financing of EUR 260 million has now been successfully secured for the scheme, operating under the project name Albatross. The industrial facility is being developed by Dutch specialist GIGA Storage, with Chinese battery manufacturer Contemporary Amperex Technology Co., Limited (CATL) acting as key technology partner.
The planned infrastructure will feature an output of 350 megawatts and a storage capacity of 1,400 megawatt-hours. In its role as technology partner, CATL will handle the detailed planning as well as the construction and future maintenance of the stationary battery storage facility. The scale of the project is designed to make a tangible contribution to stabilising the German transmission grid in the future and to safeguard the feed-in of renewable energy.
International banking consortium provides capital
Reaching this milestone relies on an international consortium of renowned financial institutions. The total sum of EUR 260 million is being jointly provided by ABN AMRO, Hamburg Commercial Bank, ING, Rabobank, Siemens Bank, SMBC and Société Générale. With this institutional backing in place, construction of the large-scale storage facility can proceed to the next phase.
For GIGA Storage, the Lower Saxony site joins an international pipeline. The Dutch company focuses on the development, delivery and operation of large-scale battery storage systems across Germany, Belgium and the Netherlands to enhance the flexibility of European power grids. Across the three countries, the developer's current project portfolio encompasses a total volume of approximately 1.4 gigawatts.
CATL, in turn, is consolidating its presence in the European infrastructure market through this commitment. Founded in 2011 and headquartered in Ningde, the company is one of the world's leading manufacturers of lithium-ion batteries for electric vehicles and stationary energy storage systems. In Germany, the group already operates its own battery factory in Arnstadt, Thuringia, and continuously invests in innovative battery technologies.
Long-standing legal counsel
Commercial law firm ADVANT Beiten advised CATL on the legal structuring and delivery of the major project. Led by lead partner Dr Christian von Wistinghausen, the firm has been advising the technology group across various legal fields since its market entry into Germany in 2018, underlining its specialisation in large-scale energy projects.
