Dutch battery energy storage developer GIGA Storage has secured EUR 260 million of debt financing for the construction of its 350-MW/1,400-MWh Albatross project in Lower Saxony, Germany.

The financial close was achieved with the participation of seven banks and will clear the path for construction to begin in early 2027, GIGA Storage said on Monday. The lending consortium includes ABN AMRO, Hamburg Commercial Bank, ING, Rabobank, Siemens Financial Services, SMBC and Societe Generale.

Set to become one of Germany’s largest battery energy storage systems (BESS), Albatross is GIGA Storage’s first project in the country. The facility will be located near Neuenkirchen and will be connected directly to the high-voltage grid of Germany’s Amprion. The deal with the transmission system operator was reached earlier in October, after the project achieved a ready-to-build (RTD) status.

The BESS will comprise 264 battery units and is planned to be commissioned in early 2029. Once online, it will store electricity when supply is abundant and feed it back into the grid when needed, having the capacity to cover the daily energy consumption of around 193,000 German homes.

The Albatross project was developed in collaboration with Isenau Projects. China’s CATL has been tasked with its engineering, construction and maintenance.

Albatross is one of the projects that are part of GIGA Storage’s 1.4-GW/5.6-GWh portfolio of under-construction assets. Together with the 300-MW Leopard in the Netherlands and the 700-MW Green Turtle in Belgium, it supports the company’s goal of having over 2 GW of operational capacity in Northwestern Europe by 2030.