Amsterdam—Dentons has advised a syndicate of five banks — consisting of ING Bank, NatWest, Deutsche Bank, ABN AMRO Bank and Rabobank — in relation to the project financing and development of Project Sirius, a 200 MW / 800 MWh battery storage facility in Winschoten, Groningen, to be further developed by Return Energy. Project Sirius is backed by a long-term fixed-price tolling agreement with Vattenfall and is one of the largest battery storage projects under development in the Netherlands.
Project Sirius represents a total investment of approximately €180 million and is supported by financing commitments of up to €400 million as part of Return’s wider battery portfolio financing.
Battery storage is becoming an increasingly important part of the Dutch energy transition, helping to balance supply and demand, absorb surplus renewable power and support grid reliability. Sirius will connect to TenneT’s substation in Meeden under a Time-Dependent Transmission Rights (TDTR) agreement, enabling the battery to operate within existing grid constraints and support the Dutch electricity system.
The deal has reached financial close and commercial operations are expected to start in the fourth quarter of 2027.
The Dentons team was led from Amsterdam by Marcel Janssen and Gerard Koster, and included Frits Miedema, Stephanie Leenaars, Emile Hallo, Noah Schütten, Jan Jakob Peelen, Başak Küçük, Mees Olthof, Julie Antonis, Bas Legger and Ines van Dijk in Amsterdam as well as Matthew Sapte and Arun Bindra in London.
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