Amstelveen-based GIGA Storage, a developer of power storage tasks, introduced that InfraVia Capital Companions has acquired a majority shareholding within the firm.
GIGA Storage specialised in Battery Vitality Storage System (BESS) improvement, development, and operations within the Netherlands and Belgium.
The phrases and circumstances of the transaction are usually not disclosed, and the closing is anticipated to happen within the coming months.
The announcement comes virtually a yr and a half after Rabobank, by means of its funding arm Rabo Investments, acquired a minority stake within the firm.
The funding positions InfraVia as the bulk shareholder in GIGA Storage. However, the founder-led administration crew will retain a major stake within the firm and can proceed to steer the corporate throughout this new progress section.
InfraVia and the administration crew plan to utilise the corporate’s experience in growing, developing, and working utility-scale storage tasks to determine a distinguished power storage platform in Northern Europe.
The transaction will speed up GIGA Storage’s progress within the improvement and operation of large-scale BESS websites that can underpin the power transition initially in each nations.
GIGA Storage: Ending fossil-fueled energy crops
Based in 2018 and led by Ruud Nijs, GIGA Storage is a developer, investor, and operator of large-scale power storage tasks in Europe.
The corporate is attempting to close down gasoline and coal-fired energy crops. The corporate does this by putting GIGA batteries in strategically sensible locations to handle sustainable power storage optimally and to have the ability to provide power on the proper time.
The Dutch firm says putting batteries in strategic places prevents congestion and ensures grid stability. Since its inception, the Dutch firm has commissioned two tasks and constructed a undertaking pipeline of 12,500 MWh.
GIGA Storage connects extra renewable power tasks to the grid, leading to extra environment friendly use of that electrical energy grid.
Ruud Nijs, CEO of GIGA Storage, says, “Our ambition is to have a a number of of GWs of put in power storage energy in Europe within the years to return,” Ruud stated. “By combining our experience with InfraVia’s in depth sources and trade information, we’re poised to make vital strides in direction of reaching this ambition and driving optimistic environmental impression.”
GIGA Giraffe
Final month, GIGA Storage launched an power storage undertaking known as GIGA Giraffe within the port space of Amsterdam.
This 47 MWh battery would be the identical dimension because the GIGA Buffalo battery in Lelystad and would be the first 4-hour battery within the Netherlands.
The battery will utilise reserve capability on the transport community to stop transport restrictions. It’s scheduled to be linked within the first quarter of 2025.
The GIGA Giraffe is a ten MW and 47 MWh storage undertaking that can enable the electrical energy community to retailer power peaks throughout sunny hours and keep stability with a rising share of unpredictable however sustainable power technology.
What units this battery aside is its capability to cost or discharge for 4 hours, enabling it to take part within the Dutch day-ahead and intraday electrical energy markets.
The investor
InfraVia is an impartial European non-public fairness agency, specialised in Infrastructure, Actual Property (Essential Metals, Actual Property), and Expertise investments.
The VC helps entrepreneurs and firms of their progress journeys and helps them increase their companies into top-tier platforms.
Since 2008, InfraVia has raised €12B of capital and invested in 50+ firms throughout Europe.
Athanasios Zoulovits, Accomplice at InfraVia, says, “We’re thrilled to welcome GIGA Storage into the InfraVia household. This partnership underscores our conviction that BESS is an enabler within the decarbonisation of the European energy market. We’re excited to accomplice with the founders and administration crew of GIGA Storage, a crew with a confirmed observe report and nice execution abilities, to assist them roll out an bold progress plan.”
