Hertz 2 battery storage project secures €85.6 million loan from BERD and NIB
Type: Financing · Technology: Storage · Country: Estonia · Capacity: 100 MW · Announced: 2026-07-13
The Hertz 2 battery storage project obtained a €85.6 million loan from the European Bank for Reconstruction and Development and the Nordic Investment Bank. The financing supports the 100 MW / 200 MWh BESS located in Aruküla, Estonia, and complements equity contributions from the project shareholders. The loan was structured to fund the modular container deployment and associated balance‑of‑system components. This capital injection follows the recent synchronization of the Baltic electricity grid with the continental European system in February 2025. The financing agreement was disclosed in the July 2026 press release announcing the commissioning of Hertz 2.
Counterparties
- Aberdeenshire Council (Lender)
- NIBC (Lender)