Eku Energy Enters German Market with Acquisition of 1.6GWh Battery Storage Facility

Eku Energy, a global player in the battery storage business, announced its entry into the German market with the acquisition of the Dion battery storage facility in Rinteln, Lower Saxony. This marks Eku Energy's first project in Germany, featuring a rated power of 400MW and a battery storage capacity of 1,600MWh.

The Dion battery storage facility is one of the largest in Germany. It will contribute to Germany's energy security by connecting directly to the transmission grid and providing essential grid services, including black start capability*1.

The project is currently in the final stages of development, with operations scheduled to commence by the end of 2029.

Image of the Dion Battery Storage Facility

*1 Black start capability refers to the ability of a power plant to start up without relying on an external power supply, enabling the restoration of power generation facilities and the power grid in the event of a large-scale blackout.

Germany Becomes Eku Energy's Sixth Market Globally

Eku Energy is a joint venture between British Columbia Investment Management Corporation (BCI) and funds managed by Macquarie Asset Management (MAM), a leading global asset manager with A$722.1 billion in assets under management.

Eku Energy has entered into a development services agreement with Nion Energiesysteme GmbH (hereinafter referred to as "Nion"), the developer of the Dion battery storage facility. Under this agreement, Nion will continue to be responsible for the project's development until it reaches the construction-ready stage. Eku Energy will provide strategic leadership in development, design, and technology. Eku Energy will also collaborate with Fluence, a long-standing partner in the supply of lithium iron phosphate (LFP) batteries, to advance the project.

Building a Long-Term Battery Storage Market in Germany

Erin Lee, Chief Financial Officer (CFO) of Eku Energy, stated:

"Eku Energy's core strength lies in combining technical expertise with extensive commercialization experience. Our versatile projects integrate long-term offtake agreements with participation in the power trading market. This specialization in contracts and storage technology enhances the stability and predictability of project revenues."

The Dion battery storage facility represents Eku Energy's first step into the German market. The company is developing over 25GWh of projects in Australia, Japan, New Zealand, the United Kingdom, and Italy, approaching battery storage projects with a long-term infrastructure investment perspective. Eku Energy aims to hold projects in its portfolio for the long term, demonstrating a consistent commitment to development, construction, and operation. By combining expertise in capital markets, technical know-how, and a long-term holding strategy, the company seeks to attract new capital for the energy transition.

Eku Energy plans to build a long-term project pipeline in Germany and intends to open an office in the country in 2027. As the project pipeline expands, Eku Energy will seek to establish new partnerships across the entire energy value chain, particularly in areas such as battery storage projects, long-term power offtake, and commercialization models.

For more details on the Dion battery storage facility, please click here.

About Eku Energy

Eku Energy is dedicated to accelerating the global energy transition by delivering cost-effective clean energy through safe and reliable battery storage solutions. Eku Energy operates across the entire project lifecycle, from origination and development to construction, operation, and management. With a global presence in Japan, the UK, Australia, and Italy, the company leverages its extensive experience and knowledge in navigating complex regulatory, financial, and market environments. Eku Energy is a joint venture between funds managed by Macquarie Asset Management and British Columbia Investment Management Corporation (BCI). For more information, please visit here.