Lion Storage reaches financial close on 1.4GWh BESS in the Netherlands
Summary
It is to be developed in the port area of Vlissingen in the northern Netherlands and is expected to be operational in the first half of 2027, slightly later than the previously forecast 2026 target.Once operational, the developer claims the asset will be the largest utility-scale BESS in the country, fully funded through 100% non-recourse project financing. We considered other suppliers but in the end it was quite obvious they were the ones to go with, Lion Storage co-founder and CTO Jeroen Althoff told Energy-Storage.news from Day One of the Energy Storage Summit EU 2025 in London yesterday (18 February).For project finance it needs to be bankable, and they do all the EPC and civil works, it all sits beneath them. If you have one party responsible for batteries and one for installation and one for ground works, you can run into problems.Eneco will trade the battery in the market with a commercial agreement somewhere between merchant and a toll, which Althoff claimed is the first of its kind.Eneco is pioneering flexibility in the Netherlands and we have contracted with them on a market revenue index model. The asset it so large we needed to reinvent the commercial model.Lion Storage said the BESS will be a critical component in replacing a former coal-fired power plant. It will use the areas existing grid connection to allow direct access to the high-voltage network operated by the countrys transmission system operator TenneT.Arno Hendriks, co-founder of Lion Storage, believes the project will be a game-changer for energy storage in the Netherlands and highlights that the technology is investable.As the first of its kind to secure full project financing, it proves that energy storage is not just viableits investable, Hendricks said.Energy-Storage.news interviewed Althoff at the Energy Storage Summit EU 2024, at which he discussed the companys plans and the major challenges in the Netherlands energy storage market.First 4-hour BESS goes online in the NetherlandsAs reported earlier this month, developer-operator S4 Energy put a 4-hour duration project online in the Netherlands, the first in the country to become operational.The firm has operationalised a 10MW/40MWh BESS in the Rilland municipality of the Zeeland province.
Funding
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