Aquila Clean Energy and Energy Gates Close BESS Project

Aquila Clean Energy and Energy Gates have closed a transaction for a 50 MW/100 MWh ready-to-build battery energy storage system (BESS) project in Lithuania. Aquila Clean Energy, a developer and operator of clean energy assets, sold the project to Energy Gates, an infrastructure investment firm focused on the energy transition. The project, designed with a two-hour storage capacity, is strategically positioned to provide essential flexibility services to the Lithuanian power system, contributing to grid stability and the integration of renewable energy sources. This acquisition allows Energy Gates to expand its portfolio in the energy transition sector, while enabling Aquila Clean Energy to realize value from a developed asset. The deal underscores the growing importance of energy storage solutions in the Baltic region, particularly in enhancing energy security and supporting the increasing penetration of intermittent renewable energy sources. The project's ready-to-build status suggests a relatively short timeline to operationalization, allowing Energy Gates to quickly capitalize on the demand for grid stabilization services. This transaction is indicative of the broader trend of infrastructure investors seeking opportunities in battery storage assets to facilitate the energy transition and improve grid resilience.