As part of the transaction, Aviva Investors will acquire an initial shareholding in Terra One and secure two seats on the company’s board.
New EU platform urges tenfold battery storage growth
The initial €75 million commitment from Aviva Investors is accompanied by €15 million in funding from Terra One to finance the construction of approximately 500 MW of battery energy storage system (BESS) assets in Germany, expected to become operational by 2028. The agreement provides for a total potential commitment of €150 million from Aviva Investors to support the construction of Terra One’s later-stage pipeline.
Germany – 240 MWh battery park to ease grid congestion
Founded in 2021 and based in Berlin, Terra One develops and operates battery storage systems across Europe. The company currently manages a pipeline of 5.8 GW across the battery energy storage system (BESS) value chain, including development projects, assets under construction, and operational systems handled in-house. (hcn)
