Giga Storage Set to Attract €260 Million Financing for 350 MW German Battery Project

Dutch developer Giga Storage is set to attract €260 million in project financing for its Albatross battery storage facility in Germany, the company’s first large-scale BESS deployment in the country.

A syndicate of seven banks — ABN Amro, Rabobank, ING, SMBC, Société Générale, Hamburg Commercial Bank and Siemens Bank — will provide the credit package. The deal follows Albatross reaching ready-to-build status in early October and the signing of a transmission connection agreement with grid operator Amprion on 14 October — the first such contract Amprion has concluded for a large storage asset at the 380 kV level.

The facility will be sited near Neuenkirchen in Lower Saxony, connected directly into the 380 kV network at the Merzen substation. Its rated output is 350 MW with a storage capacity of 1.4 GWh across a four-hour discharge window. The physical plant will consist of 264 containers of batteries, plus 96 transformers at medium voltage and two at high voltage; CATL is the technology partner and will coordinate installation and maintenance through European subcontractors whose identities have not yet been disclosed.

Construction is planned to begin in early 2027. The commercial launch date has shifted from an original 2028 target to early 2029, though the developer had originally planned to reach a final investment decision in the fourth quarter.

Albatross is part of a broader European push by Giga Storage. Together with the Leopard project in the Netherlands and Green Turtle in Belgium, the company now has roughly 1.4 GW and 5.6 GWh of battery storage being built across three countries.

Source: ESS News (pv magazine)