Giga Storage starts construction on Green Turtle BESS and secures €450M debt financing from banking consortium
Type: Financing · Technology: Storage · Country: Belgium · Announced: 2026-09-17
Giga Storage secured a €450 million ($512.5 million) debt package from a consortium of 10 banks and progressed to construction on its 700 MW / 2.8 GWh Green Turtle battery energy storage system on Sept. 17, 2026. The four-hour BESS will be built at the former zinc factory in the Rotem industrial estate in Dilsen-Stokkem, Limburg province, Belgium, and is due for commissioning at the end of March 2028. Tesla will supply 640 Megapack 3 units and act as EPC contractor, and the site will include 188 medium-voltage transformers and four high-voltage transformers. The project will connect directly to Belgium’s high-voltage network beside Elia’s 380 kV Van Eyck-Gramme transmission line, with Elia constructing a new high-voltage substation on the Rotem estate. Total project investment is around €700 million, with roughly €250 million of equity provided by Giga Storage majority owner InfraVia Capital Partners and the €450 million provided by the named banking consortium.
Counterparties
- Rabobank (Lender)
- Infravia Capital Partners (Parent Company)
- Triodos Investment Management (Lender)
- ING (Lender)
- SMBC (Lender)
- Santander (Lender)
- Tesla (Epc)
- ABN AMRO (Lender)
- Belfius (Lender)
- Elia (Partner)
- Hamburg Commercial Bank (Lender)
- Triodos Bank (Lender)
- GIGA Storage (Developer)
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