- The 300MW/718MWh Foerderstedt BESS Project in Saxony-Anhalt is the largest ever financed in Germany.
- Site will boost Germany’s BESS capacity and support the rapid expansion of storage capacity required for Germany's energy transition.
- NORD/LB’s third large-scale German battery deal, reinforcing its position as a leading BESS bank and commitment to financing important projects in Saxony-Anhalt
The Foerderstedt facility will comprise a 300MW / 718MWh battery energy storage system (BESS). Designed to provide large-scale flexibility to the German power system, the project will support renewable energy integration, strengthen grid stability and enhance security of supply. The project is supported by a recently announced long-term Flexibility Tolling Agreement with Next Kraftwerke, one of Europe's leading virtual power plant operators. The tolling agreement provides a long-term commercial framework for the project and enables the battery to be optimised across multiple energy and balancing markets. The innovative structure combines revenue certainty with operational flexibility, reflecting the increasing maturity of utility-scale battery storage and supporting the project's financing.
As Germany accelerates its energy transition, demand for large-scale BESS is growing fast, driven by the need for a more stable and flexible grid. ECO STOR is helping to meet this need by developing the 300MW/718MWh Foerderstedt BESS site and other important projects, which will expand the country’s storage capacity, supporting the rapid expansion of storage capacity required for Germany's energy transition and strengthen the country’s renewable energy future.
Over the past few years, NORD/LB has financed some of the largest battery BESS projects in Europe, supporting more than 11GWh of capacity across the continent, including over 1GWh in Germany. This track record has helped establish NORD/LB as one of Europe's leading lenders in the energy storage sector, and the bank will continue to apply this experience to other important projects. The financing of the Foerderstedt project in Saxony-Anhalt - part of the home region of NORD/LB – also demonstrates the bank's commitment to supporting the local energy transition.
"We're delighted to continue supporting ECO STOR by financing the Foerderstedt project," said Florian Hock, Senior Director at NORD/LB. "Scaling the renewable energy transition across Germany and Europe will depend on the rollout of large-scale battery storage projects, which are essential to strengthening grid flexibility and energy security. As a bank, we're committed to providing the capital and financial expertise needed to support the expansion of this technology and accelerate the path to net zero across Saxony-Anhalt, Germany and Europe."
Jörn Rohland, CFO at ECO STOR, comments: "The successful financing of Foerderstedt sends a strong signal to the market. Realising a battery storage project of this scale is a remarkable achievement at a time when regulatory frameworks, market structures and revenue models continue to evolve. It underlines the growing maturity of the storage sector and reflects the determination, expertise and shared conviction of all project partners.”
He adds: “Projects such as Foerderstedt do more than add storage capacity. They provide critical infrastructure that strengthens grid stability, supports the integration of renewable energy and enhances security of supply. The fact that this can be achieved through private-sector investment and commercial financing demonstrates the increasing ability of the market to deliver essential energy transition infrastructure without relying on public funding. Together with NORD/LB, we are helping to build the infrastructure that will enable Germany's renewable energy future."
Clifford Chance acted as NORD/LB’s legal adviser on the deal, while Hogan Lovells acted as ECO STOR’s legal adviser.
About ECO STOR
The ECO STOR GmbH team develops, builds, and operates battery storage facilities throughout Germany that repeatedly set new records in terms of performance and capacity. The German-Norwegian company is thus providing a key building block for the success of the energy transition: thanks to ECO STOR, it no longer matters when electricity is produced from renewable sources. Battery storage makes green energy more affordable and predictable. ECO STOR is the only player in Germany to cover the entire value chain, from planning and implementation to operation. ECO STOR is backed by a strong international energy transition consortium, including renewable energy developer X-ELIO and investment company Nature Infrastructure Capital (NIC), which specializes in this sector.
www.eco-stor.de
About NORD/LB
NORD/LB Norddeutsche Landesbank is one of Germany’s leading commercial banks, and a pioneer in renewable energy project finance since the 1990s, across more than 30 markets. As an institute under public law, it is part of the S-Finance Group. Its core business segments include corporate customers, special financing in the energy and infrastructure sectors, financing commercial real estate via Deutsche Hypo, capital market business, association business with the savings banks, and private and commercial customers including private banking. The bank is based in Hanover, Braunschweig, and Magdeburg and has branches in Oldenburg, Hamburg, Schwerin, Düsseldorf, and Munich. Outside Germany, NORD/LB is represented by a Pfandbrief bank (NORD/LB Covered Bond Bank) in Luxembourg and by branches in London and New York.
