ICG Infra forms partnership with W Power Storage
Published by Jessica Casey,
Editor
Energy Global,
ICG, a global alternative asset manager, has announced that its European Infrastructure team (ICG Infra) has entered into a partnership with W Power Storage, a German platform specialising in grid scale battery energy storage systems (BESS), alongside its founders, management team, and shareholder, Wirth Group. With ICG’s backing, the platform plans to deploy up to €500 million to deliver its multi-gigawatt BESS project pipeline, with projects already in operation and under construction.
Headquartered in Heidelberg, Germany, with a team of more than 50 professionals, W Power combines expertise in land acquisition, permitting, engineering, construction and the operation of grid scale BESS. As renewable penetration accelerates, the demand for flexibility solutions is becoming increasingly critical, amid an undersupply of battery capacity. W Power’s battery storage assets will play a crucial role in reducing reliance on fossil-based balancing energy, enabling greater renewable integration and reinforcing grid resilience. In addition, the platform will contribute to meeting the objectives of the EU Green Deal and Germany’s climate neutrality targets.
The newly formed partnership adds to ICG Infra’s existing portfolio of assets in the energy transition sector, having previously invested in Enfinity Global and CVE, among others.
Frank Heiss, Managing Director, European Infrastructure at ICG, said: “We are delighted to announce our newly formed partnership with W Power. Battery storage is a key pillar of the energy transition, underpinning grid stability, supply security and the integration of renewable energy. W Power has proven development and execution capabilities, a robust pipeline of existing opportunities and strong growth potential. We look forward to working with the management team and our co-shareholders to help accelerate the company’s next phase of growth and establish it as a leading independent flexibility provider.”
Andreas Wirth, Shareholder, Wirth Group, added: “With ICG, we have gained a partner that combines long-term financial strength with strategic expertise and deep experience. This enables W Power Storage to deliver system-critical storage projects in Germany.”
Christian Dornisch, Managing Director at W Power Storage, commented: “This partnership positions W Power Storage to become a driving force in transforming how power systems are built and operated. By scaling grid scale battery storage at speed, we are building the foundation for new, decentralised energy structures, strengthening resilience at every grid level and setting a new standard for flexibility, stability and system security in the energy transition.”
ICG Infra was advised by CASE CASSIOPEA and ABN AMRO Bank (M&A), Hogan Lovells (legal), AFRY (commercial & technical), and Deloitte (financial & tax).
Wirth Group was advised by Paul Hastings (legal) and EGSZ (tax).
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