Hamburg – NION Energieprojekte GmbH has sold the project company for a 1,600 MWh Battery Energy Storage System (BESS) project in Lamspringe, Lower Saxony, to the international battery energy storage developer EKU Energy Limited. At the same time, the parties entered into a project development agreement under which NION will continue to develop the project through to ready-to-build status.
A CMS team led by Dr Stefan Kühl provided comprehensive legal advice to NION Energieprojekte GmbH on the structuring and negotiation of the transaction. The advice included, in particular, the negotiation of the Share Purchase Agreement and the project development agreement. CMS also advised on corporate, tax and public law matters.
With a planned nominal rated power of 400 MW and a capacity of 1,600 MWh, the battery energy storage project in Lamspringe is already one of the largest stand-alone battery storage projects in Germany at the development stage. Once completed, it is expected to make a significant contribution to enhancing flexibility in the German electricity system, supporting both the integration of renewable energy and the stabilisation of the electricity grid.
The transaction forms part of NION's strategy of developing high-quality energy infrastructure projects and advancing them to implementation together with long-term investors. For EKU Energy, the acquisition marks its entry into the German market for utility-scale battery energy storage projects.
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