Capcora Advises: Terra One Sells 310 MW Battery Storage Portfolio in Germany to CCI

Frankfurt am Main, Germany - The market for large-scale battery storage systems is developing with increasing momentum in Germany. Large-scale battery storage systems enable the continuous supply of renewable energies and are therefore considered a crucial component of the energy transition.

In this accelerating market environment, Terra One Climate Solutions GmbH, a pioneer in the field of grid-connected battery energy storage systems (BESS) in Germany, has now announced an agreement to sell a 310 MW portfolio of project rights for stand-alone battery storage in Germany to Castleton Commodities International LLC (CCI), a global energy trading company and infrastructure investor.

The portfolio includes 310 MW of construction-ready and advanced projects strategically designed to support Germany's renewable energy goals by improving grid stability and providing the flexibility needed for a sustainable power grid. CCI will build, own and operate these assets through its subsidiary S4 Energy BV.

Terra One directly supports these goals with a project pipeline of over 400 projects and a total capacity of more than 80 GWh, underlining its ambition to become one of the top 3 providers of flexible energy in Europe. Terra One is currently building several BESS projects across Germany and is actively involved in the electricity market through its proprietary algorithmic trading platform.

Terra One was supported in the transaction by consulting firm Capcora, which acted as exclusive M&A advisor. From Capcora's perspective, the transaction marks a milestone in the still young BESS market in Germany and is one of the first cross-border transactions in the emerging sector. Terra One was advised by Baker McKenzie (legal) and EY (tax).

“Our partnership with CCI, a well-established player in the energy commodities market, brings significant value to our stakeholders. This collaboration leverages CCI's extensive market experience and our innovative approach,” said Thomas Antonioli, Co-Founder and Chief Financial Officer of Terra One, welcoming the sale. “This partnership demonstrates the growing significance of cross-border collaboration in advancing Europe's BESS market”, adds Capcora Director Henning Prigge.

Source: IWR Online, 13 Nov 2024