Author
Sebastian Montoya
Sebastian Montoya
Every week we spotlight battery-storage, and for good reason: the sector is still the backbone of Europe’s energy transition. This week, BESS and Wind each accounted for 30% of the mapped transactions.
- In BESS we saw everything from financing for new projects in the Nordics to second-life battery investments with Allye Energy.
- Is battery-storage manufacturing coming back? Lyten’s investment in Central European manufacturing is one of the few such moves in recent months, following news of Meyer Burger’s manufacturing moratorium in solar.
- Local and strategic wind investments drove the seven moves we tracked. Highlights include Iberdrola seeking to sell 49% of an 805 MW plant, and Eno Energy, which is in insolvency and looking for investors.
Data centers, hybrids, hydrogen and fresh innovation: find these and more in today’s edition.
Want to talk about any of these insights? Connect with me on LinkedIn.
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Deals breakdown
Battery-storage in Europe: leadership and momentum in late Q3
We compiled our curation from 5 September to 17 October to see how the story behind our curation is playing out.
The signal is clear: battery-storage M&A shows up almost every week, with deal announcements peaking in late September and mid-October.
This confirms a pattern we’ve seen lately: batteries have shifted from a “complement” to a core piece of energy infrastructure.
Month-end spikes also suggest the sector is active in typical closing windows. Looking closer at the deals, a few trends stand out:
- Fewer pilots, more platforms with GW targets. The BESS model looks increasingly mature.
- Partial sell-downs and fund entries are gaining traction. This points to battery-storage as a strategic investment asset: projects launch, stabilise and quickly recycle capital.
Battery-storage is already the backbone of flexibility in Europe’s renewables M&A. The question now is how to scale.
Battery storage
- Finland | FRV partners with AMPTank Energy to build 100 MW/200 MWh SIMO battery project in Lapland — financed by Kommunalkredit Austria, the two-phase system (total 130 MW/260 MWh) will be among Finland’s largest BESS assets, enhancing grid stability and renewable integration north of the Arctic Circle.
- Netherlands | Return secures €300m growth investment from APG to scale its pan-European battery storage platform — funding to accelerate deployment toward 5 GW of BESS capacity by 2030 and strengthen grid flexibility for renewable integration across Europe.
- Norway | Corvus Energy raises $60m from Morgan Stanley–led consortium to expand maritime battery production — funding to boost deployment of zero-emission ESS solutions as global shipping accelerates decarbonisation.
- Poland | GoldenPeaks Capital signs MoU with Envision to deploy 1 GWh of next-generation BESS projects — partnership begins with 344 MWh rollout using Envision’s Gen 8 technology, strengthening GPC’s 2.5 GWh storage pipeline in Poland and advancing large-scale grid flexibility across Europe.
- Poland | Lyten completes acquisition of Northvolt’s 6 GWh BESS plant in Gdańsk — restarts Europe’s largest battery storage factory, targets first sales by year-end and full regional expansion after 4Q 2025 Northvolt asset closures in Sweden and Germany.
- UK | Allye Energy raises $2.5m seed round to scale smart BESS using repurposed EV batteries — funding to expand manufacturing and European rollout amid $10.7m project pipeline.
- UK | Copenhagen Infrastructure Partners sells 50% stake in 500MW Coalburn 2 battery project to AIP Management — one of Europe’s largest BESS assets, backed by 10-year optimisation deal with SSE and 15-year capacity contract, as CIP expands its 1.5GW UK storage portfolio and AIP deepens its 7GW energy transition investments.
Hydrogen
- Spain | Magnon, ErasmusP2X, and Power2X launch 200,000 tpy e-methanol project in Puertollano — to link with Enagás’ future hydrogen backbone, combining biogenic CO₂ and 1 GW of solar-powered H₂ for large-scale green fuel production.
- Sweden | Metacon acquires SEK 3.5 m hydrogen refuelling station assets from bankrupt Hynion Sverige — purchase fills equipment gaps in ongoing H₂ station projects and supports future network expansion.
- Sweden | Stegra seeks $1.1bn to advance its hydrogen-based green steel plant in Boden — funds to cover rising costs and secure financial buffers for Europe’s first large-scale steel facility using on-site renewable hydrogen in the production process.
Multiple
- Germany | Citadel to acquire Hamburg-based power trader FlexPower — move strengthens Citadel’s European energy trading footprint and combines its risk management expertise with FlexPower’s 1.7GW renewable trading portfolio.
- Pan-Europe | Fortescue in advanced talks to acquire Recurrent Energy from Canadian Solar — potential multi-billion-dollar deal would give Fortescue a 27 GW solar and 63 GWh storage pipeline, expanding its European renewables footprint as Canadian Solar exits; Santander and Wells Fargo advising on the sale.
Solar
- Ireland | EC approves Infranity’s joint investment with Omnes Capital in Power Capital Renewable Energy — enabling equity infusion to accelerate Ireland’s largest solar and BESS platform, with 230 MW operational, 330 MW under construction, and a 5 GW development pipeline.
- Romania | Sany enters Europe’s renewable market with acquisition of 95 MWp solar + 218 MWh BESS project in Dobrești — marking its first grid-connected PV + storage asset in the region and signaling the company’s strategic expansion into European clean energy.
Wind
- France | BOA and BrestPort sign MoU to develop floating wind turbine launch methods — partnership to combine BOA’s semi-submersible fleet with BrestPort’s marine terminal, advancing scalable deployment solutions for Europe’s floating offshore wind industry.
- Germany | Administrator launches investor search for insolvent wind turbine maker Eno Energy — following bankruptcy filing on 7 October, restructuring aims to attract buyers for project development, construction, and service units as firm continues operations with 54 wind farms in pipeline.
- Latvia | Taaleri Energia’s SolarWind III Fund makes first Latvian wind investment with 112MW Smiltene project — co-owned with Lords LB’s AEI, the wind farm (16 Nordex 7MW turbines) will generate 330GWh annually and nearly double Latvia’s onshore wind capacity by 2027.
- Lithuania | Ignitis Renewables takes full control of 700 MW Curonian Nord offshore wind project — acquires Ocean Winds’ 49% stake at nominal value, reimbursing project-related costs; Ignitis to continue development independently with construction permit targeted for 2027 and new partner selection ahead of FID.
- Montenegro | EPCG signs MoU with France’s Wind Fisher to explore airborne wind energy solutions — three-year cooperation to evaluate pilot projects and regional business cases using Magnus effect technology for innovative wind power generation.
- Spain | Repsol and Forestalia to develop Spain’s largest hybrid energy project in Zaragoza — hybridizing Repsol’s 818 MW Escatrón CCGT with 805 MW of Forestalia wind farms (1.6 GW total) to power a major new data center, securing 402 MW of renewable self-consumption capacity for the facility.
- UK | Iberdrola launches sale of 49% stake in 960 MW East Anglia 2 offshore wind farm — Bank of America and BBVA advising; Abu Dhabi investors reportedly interested as Spanish utility continues offshore wind farm-down strategy ahead of 2028 project launch.
