Terra One, one of Europe’s leading developers of grid scale battery storage systems, has secured up to €150 million in mezzanine financing from Aviva Investors.
Alongside equity and project financing, these funds will enable Terra One to invest up to €750 million in new storage assets. This will enable the company to build up a total capacity of around 3 GWh – enough to meet the electricity needs of approximately 20% of all German households (approx. 42 million households in 2024/2025) for one hour.
Tony Schumacher, Founder and CEO of Terra One, commented: “This financing is a milestone for Terra One and for the energy transition in Europe. With Aviva Investors at our side, we can accelerate the expansion of large scale battery storage significantly. In doing so, we are making a decisive contribution to security of supply and making Europe’s energy system more independent and resilient. At the same time, the hybrid financing structure gives us the flexibility and scalability we need to establish Terra One as one of the leading independent storage developers in Europe.”
Adam Irwin, Director Infrastructure Equity at Aviva Investors, added: “Energy storage is the backbone of a carbon-neutral future. We are investing in Terra One because the company has proven its ability to deliver projects quickly, reliably, and to the highest standards. Together, we aim to take the European storage market to the next level and accelerate the transformation of Europe’s energy systems.”
As the energy transition progresses, market volatility and the strain on electricity grids are increasing. Battery storage systems are crucial for integrating renewable energies, stabilising grids and strengthening European energy independence. Terra One combines project expertise, innovative financing structures, and an artificial intelligence-based trading platform. This makes the company a leading partner for grid operators, banks, and investors in the dynamically growing storage market. Elgar Middleton acted as Financial Advisor and Hogan Lovells as Legal Advisor to Terra One.
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