GIGA Storage secures €450 million debt financing for Green Turtle 700 MW / 2,800 MWh battery energy storage project in Belgium

Type: Financing · Technology: Storage · Country: Belgium · Capacity: 700 MW · Value: $450M · Announced: 2026-07-10

GIGA Storage finalized €450 million in debt financing from a consortium of ten international banks to construct the Green Turtle battery energy storage system (BESS) in Dilsen-Stokkem, Belgium. The 700 MW / 2,800 MWh project, located at the Rotem industrial estate near the Belgian-Dutch-German border triangle, will connect directly to Elia’s 380 kV transmission network via a dedicated high-voltage substation. Construction is scheduled to begin in September 2026, with commercial operations expected in 2028, enabling the facility to supply electricity equivalent to the daily consumption of approximately 385,000 households at peak output. Tesla was appointed as the engineering, procurement, and construction (EPC) contractor, supplying its Megablock battery energy storage technology and providing long-term maintenance services for the project. InfraVia Capital Partners provided the remaining equity financing required to reach financial close. The banking consortium includes ABN AMRO, ING, Rabobank, Triodos Bank, Triodos Investment Management, asr, Belfius, Hamburg Commercial Bank (HCOB), Santander, and SMBC, with Santander also serving as financial advisor on the transaction. Legal advisory was provided by Clifford Chance for GIGA Storage and Norton Rose Fulbright for the banking consortium.

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