Linklaters advises lender consortium on landmark EUR 300m financing for two of Belgium’s largest battery energy storage projects

Linklaters has advised a consortium of seven international and Belgian lenders on the EUR 300m financing of two greenfield battery energy storage system (BESS) projects in Belgium, including one of the largest BESS systems in Europe. The projects in Langerlo (100 MW/400 MWh) and Ruien (200 MW/800 MWh) are sponsored by Storm Management N.V., together with co-sponsors TINC N.V., I4B – The Belgian Infrastructure Fund and PMV.

The financing will support the development of two large-scale battery parks that will significantly boost Belgium’s grid-scale storage capacity and strengthen the flexibility and stability of its electricity system. The Ruien battery park, to be built on the site of a former coal-fired power station, will be among the largest in Europe. Both projects will use lithium-ion technology supplied and installed by Tesla, with commissioning expected in 2027. The lending consortium comprises Banco Santander S.A., Belfius Bank SA/NV, Coöperatieve Rabobank U.A. (Rabobank), ING Bank N.V., KBC Bank NV, Société Générale and Triodos Bank NV.

The Linklaters team was led by Laurens Cools and Henri Boone, supported by Atdhe Krasniqi, Antoine Degryse, Merel Brandt and Nieves Verhulst, together with Henk Vanhulle, Sören Vandeweyerand Abdelmajid Roughou from our tax practice. The team advised from the firm’s Brussels office, combining our market-leading energy and infrastructure, tax and real estate practices.