Amprion Grid Deal Sealed as GIGA Storage Secures $291.3 Million for 350 MW German Battery Site

GIGA Storage has secured a direct high-voltage connection to the grid of German transmission system operator Amprion for its Albatross battery project near Neuenkirchen in Lower Saxony, a step that culminated on 23 October 2026 with financial closure on a USD 291.3 million debt package.

The Amsterdam-based company announced the milestone on 26 October 2026, describing Albatross as one of the largest energy storage projects in Germany and its first venture outside the Benelux countries.

Grid Connection Among the First of Its Kind with Amprion

The grid connection agreement with Amprion was signed on 14 October 2026 and is described as one of the first of its kind the transmission operator has concluded for large-scale energy storage. Albatross will plug directly into Amprion's high-voltage network at the adjacent 380 kV Merzen substation.

Dr. Christoph Müller, CEO of Amprion, said the project shows storage is shifting from planning into delivery. "Albatross demonstrates that large-scale energy storage is indeed moving from plan to reality," Müller said, adding that battery storage can balance generation and consumption while keeping the electricity system flexible, efficient, and secure.

He reiterated the operator's goal of connecting up to 35 GW of customer projects to its grid by the end of 2030, a target that includes more energy storage.

Seven Lenders Back the USD 291.3 Million Package

The debt financing was arranged by a consortium of seven international banks: ABN AMRO, Hamburg Commercial Bank, ING, Rabobank, Siemens Financial Services through Siemens Bank, SMBC, and Société Générale. ING served as financial adviser on the transaction. Clifford Chance acted as borrower's counsel for GIGA Storage, while White & Case advised the banking group as lenders' counsel.

Animesh Ranjan, Chief Investment Officer at GIGA Storage, said the cross-border financing shows that banks remain eager to invest in the energy transition and that this confidence reaches beyond national borders.

He pointed out that a significant portion of the consortium from the company's Green Turtle project in Belgium also signed on to Albatross, alongside lenders new to the company.

According to Ranjan, backing from banking partners is essential to develop new large-scale storage projects and address grid congestion challenges across Europe.

Scale of the Facility and Construction Plans

Albatross is designed for a power output of 350 MW and a storage capacity of 1.400 MWh, which GIGA Storage says equates to the daily energy consumption of roughly 193.000 German households.

Before reaching financial close, the company finalised all key project conditions, including permits, land contracts, and supplier contracts. CATL is responsible for the engineering, construction, and maintenance of the facility and will engage several European subcontractors.

Construction is scheduled to begin in early 2027, with operations expected to start in early 2029.

Portfolio Grows to 1.4 GW Across Three Countries

With Albatross financed, GIGA Storage now has approximately 1.4 GW / 5.6 GWh of energy storage capacity under construction across the Netherlands, Belgium, and Germany. The portfolio includes Leopard, a 300 MW project in the Netherlands, and Green Turtle, a 700 MW project in Belgium, alongside the German site.

Kevin Dijkers, CEO of GIGA Storage, called the German entry a significant step in the company's expansion. "Albatross is our first major step in Germany and an important milestone in our growth," Dijkers said.

He noted that with Leopard coming online next year, the company is on track to exceed 2 GW of operational capacity by 2030 and to become a leading large-scale energy storage company in North-West Europe.

In his view, every project the company builds is critical infrastructure for an affordable, reliable, and sustainable European energy system.

Targets Beyond Albatross

The company frames the German financial close as an important step in its growth and a reinforcement of its ambition to build a leading large-scale storage platform in North-West Europe, with more than 2 GW operational by 2030.

For Amprion, the connection agreement fits within its stated plan to bring up to 35 GW of customer projects onto its grid by the end of 2030, encompassing additional storage capacity beyond Albatross itself.