Borenius advised the lenders in connection with a EUR 430 million project financing for the development of battery energy storage facilities

We represented the lenders (Santander and Rabobank) in the EUR 430 million non-recourse project financing for NW Group to develop battery energy storage systems in Finland and France. This amount will enable NW to operate more than 2 GWh of storage capacity in France and Finland by the end of 2025.

NW is a leader in electricity storage in France, with over 600 MW of installed capacity and more than 130 ultra-fast charging stations (IECharge®). The new funding will be used to finance the development, production, operation, and upgrading of new JBox® distributed electricity storage units in France and Finland. Developed by NW since 2018, the JBox® is a solution based on lithium-ion battery technology, offering stability and flexibility services to the electricity grid, in order to accelerate the electrification of uses for all. With the growth of intermittent renewable energies, the storage industry has great potential for development.