Giga Storage lands €260M to build 350 MW battery project in Germany
What's the deal? Dutch developer Giga StorageDealroom has a profile for this one. Try Dealroom → has secured €260 million in debt financing from a seven-bank consortium for its 350 MW/1.4 GWh Albatross battery project near Neuenkirchen in Lower Saxony, Germany. Financial close took place on October 23, 2026.
The lenders are ABN AMRODealroom has a profile for this one. Try Dealroom →, Hamburg Commercial BankDealroom has a profile for this one. Try Dealroom →, ING, RabobankDealroom has a profile for this one. Try Dealroom →, Siemens Financial ServicesDealroom has a profile for this one. Try Dealroom →, SMBCDealroom has a profile for this one. Try Dealroom →, and Société Générale. Giga Storage also signed a grid connection agreement with German transmission operator Amprion to link the project to the 380kV network.
What's the endgame? Albatross is Giga Storage's first utility-scale project in Germany, built using CATL batteries. Construction is set to begin in early 2027, with commissioning targeted for early 2029.
Why now? The package stands out among debt deals in its sector and geography, ranking in the 96th percentile of such rounds in the Netherlands all-time. It joins a wave of institutional financing for German storage, including a €440 million loan for TotalEnergies' 790 MW Kyon portfolio.
What could go wrong? Timelines are long and slipping; commissioning has already moved from 2028 to early 2029. German grid operators have received battery connection requests far exceeding available capacity, prompting a new maturity-based prioritisation process.
The signal: Large German battery projects are moving from development into bankable construction. A secured Amprion connection and seven-bank backing matter more than the headline figure, showing that storage is drawing serious institutional capital despite grid bottlenecks.
Read more: ess-news.com
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