Ruien and Langerlo BESS projects
Project
Storm, a renewables developer and Independent Power Producer (IPP), has secured project finance for two large-scale battery energy storage system (BESS) projects in Ruien and Langerlo, Belgium. The projects, totaling 300MW/1,200MWh of capacity, are being funded by a consortium of investors including I4B, PMV, TINC, and a banking syndicate. Tesla is providing the BESS units, with construction underway and commissioning scheduled for 2027. This marks Storm's entry into the energy storage market, with the company having previously focused on wind development. The deal highlights the growing demand for energy storage solutions in Europe, particularly in countries like Belgium with favorable regulatory environments.
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Counterparts (12)
Lender
Belfius
company
Brussels-based bank-insurer serving retail, business, corporate, and public/social sectors in Belgium. Focuses on sustainable finance with green and social bond issuance and climate action initiatives.
Santander
company · 7 deals
Banco Santander is a global financial institution offering a range of services including retail banking, corporate and investment banking, asset management, and consumer finance. The company focuses on building lasting loyalty among its shareholders and supporting education, employability, and entrepreneurship.
ING
company · 1 deals
ING is a global bank with a strong European base, offering retail and wholesale banking services. They provide specialized lending, tailored corporate finance, debt and equity market solutions, sustainable finance solutions, payments and cash management, and trade and treasury services.
K
Société Générale
company · 2 deals
Société Générale has acted as a lender in two verified deals, totaling £500 million and $1.5 billion, respectively. These financings support renewable energy projects, specifically one solar project in the UK and one energy storage project in the USA. This indicates a focus on providing debt financing for solar and energy storage projects across international markets.
Triodos Bank
company
Netherlands-based sustainable bank founded in 1980 with €24.1B in assets under management across five European countries and 748,619 customers. Provides lending and investment management focused exclusively on organizations driving positive social, environmental, and cultural change across energy transition, food, resource, society, and wellbeing sectors.
Rabobank
company · 1 deals
Rabobank is a cooperative bank with a focus on food and agriculture. They provide financial services and investments across various sectors, including infrastructure projects related to sustainable development and energy transition.
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Deal Analysis
Storm, a renewables developer, has secured €330m in project finance for two large-scale battery energy storage system (BESS) projects in Ruien and Langerlo, Belgium, totaling 300MW/1,200MWh of capacity. The projects are being funded by a consortium of investors including I4B, PMV, and TINC, along with a banking syndicate consisting of Belfius, Santander, ING, KBC Bank, Société Générale, Triodos Bank, and Rabobank. Tesla is providing the BESS units, with construction underway and commissioning scheduled for 2027. The banking syndicate, which includes global institutions such as Santander and ING, has provided financing for the projects. The projects are located in Belgium, with construction starting in 2026 and expected to be completed by 2027.
- €330m in project finance
- 300MW/1,200MWh of capacity
- Ruien and Langerlo, Belgium locations
- 2027 commissioning schedule
- Tesla providing BESS units
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