Santander Corporate & Investment Banking (Santander CIB) has acted as Financial Advisor and Mandated Lead Arranger to GIGA Storage and InfraVia Capital Partners in raising approximately €450 million in debt financing for the construction of Project Green Turtle, one of the largest battery energy storage system (BESS) projects in Europe.
With a capacity of 700 MW / 2,800 MWh, Project Green Turtle will play a key role in strengthening Belgium's electricity system by enhancing grid flexibility. The project will serve as critical infrastructure for Elia Group and the Belgian electricity grid, enabling the storage and supply of electricity during periods of peak demand. At full capacity, it will be capable of supplying electricity equivalent to the daily consumption of approximately 385,000 households.
The transaction marks another significant milestone in the development of large-scale battery energy storage infrastructure across Europe and reinforces Santander Corporate & Investment Banking's commitment to supporting the energy transition through financing solutions that facilitate the integration of renewable energy and strengthen the resilience and flexibility of electricity grids.
With this transaction, Santander CIB further consolidates its position as a leading financial institution in the structuring and financing of strategic sustainable infrastructure and energy transition projects across Europe.
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Santander Corporate & Investment Banking has acted as Financial Adviso...
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