Akaysha Energy and Copenhagen Energy form joint venture to develop large-scale battery storage in Germany
Type: Partnership · Technology: Storage · Country: Germany · Announced: 2026-05-07
Akaysha Energy, a BlackRock-backed battery energy storage system (BESS) developer, partnered with Copenhagen Energy to develop large-scale battery storage projects across Germany. The joint venture secured an AUD 300 million ($217.8 million) corporate debt facility in September 2025, arranged by a syndicate including Deutsche Bank, BNP Paribas, ING, SMBC, and Westpac. Each German project will be funded through non-recourse project finance with potential regional co-investment, targeting 60% to 80% contracted capacity at the project level and around 80% across the portfolio. Akaysha Energy's managing director and chief commercial officer, Paul Curnow, highlighted positive early engagements with Frankfurt-based banks and potential investors. The partnership leverages Akaysha's Australian contracting structures, including virtual toll and revenue-sharing arrangements, to accelerate deployment in Germany's growing BESS market.
Counterparties
- ING (Lender)
- Deutsche Bank (Lender)
- SMBC (Lender)
- BNP Paribas (Lender)
- Copenhagen Energy (Partner)
- Akaysha Energy (Developer)
- Westpac (Lender)