Germany’s first tolled BESS secures project financing

From ESS News

Israeli developer and independent power producer Nofar Energy has secured EUR 86.5 million ($92.5 million) in project financing from NORD/LB for its 104.5 MW / 209 MWh Stendal BESS project in Germany.

The Stendal project is backed by a seven-year fixed-price flexibility purchase agreement (FPA). In its announcement of the deal in December 2024, Nofar described it as the first of its kind in continental Europe.

While common in the U.S. and China, particularly for standalone, front-of-the-meter, utility-scale installations, tolling agreements for BESS appeared for the first time in Europe last year, first in the UK.

To continue reading, please visit our ESS News website.