RASK Advised on the Financing of the Largest Battery Park Complex in Continental Europe
Case
RASK’s Attorney-at-Law Karl-Kristjan Kahm advised the Estonian energy company Evecon, the French solar energy producer Corsica Sole, and the international investment fund Mirova, acting through their joint venture Baltic Storage Platform, in securing financing for the largest battery park complex in Continental Europe.
A record €85.6 million financing was provided by the European Bank for Reconstruction and Development (EBRD), Edmond de Rothschild Asset Management, and the Nordic Investment Bank (NIB). This transaction represents the first financing model in the Baltics that is fully based on revenues generated from energy storage assets.
RASK’s team, which also included Partner Ramon Rask, provided comprehensive legal support throughout the entire transaction process – from structuring the financing and negotiating contractual terms to finalising the agreements. As a result of the project, the Hertz 1 and Hertz 2 battery parks will be constructed in Kiisa and Aruküla, with a total capacity of 200 MW and an energy storage volume of 400 MWh.
This transaction marks a significant milestone in advancing Estonia’s green energy transition and strengthening energy security across the Baltic region, reaffirming RASK’s leading position in energy and infrastructure project advisory.
A record €85.6 million financing was provided by the European Bank for Reconstruction and Development (EBRD), Edmond de Rothschild Asset Management, and the Nordic Investment Bank (NIB). This transaction represents the first financing model in the Baltics that is fully based on revenues generated from energy storage assets.
RASK’s team, which also included Partner Ramon Rask, provided comprehensive legal support throughout the entire transaction process – from structuring the financing and negotiating contractual terms to finalising the agreements. As a result of the project, the Hertz 1 and Hertz 2 battery parks will be constructed in Kiisa and Aruküla, with a total capacity of 200 MW and an energy storage volume of 400 MWh.
This transaction marks a significant milestone in advancing Estonia’s green energy transition and strengthening energy security across the Baltic region, reaffirming RASK’s leading position in energy and infrastructure project advisory.