Berlin-based Terra One, a developer of grid-scale battery storage systems, has secured up to €150 million in mezzanine financing. Aviva Investors led this funding round. This capital will enable Terra One to invest up to €750 million in new storage assets.
The company aims to build a total capacity of around 3 GWh. This capacity could meet approximately 20% of all German households' electricity needs for one hour. Terra One, founded in 2022, develops, finances, and operates these crucial projects.
Expanding Grid-Scale Battery Capacity
Terra One's proprietary machine-learning trading platform optimizes asset performance. It operates batteries autonomously across wholesale and ancillary markets. This ensures secure, affordable, and sustainable power for Europe. The company provides flexibility to power systems increasingly reliant on renewable energy.
Battery storage systems are vital for integrating renewables and stabilizing grids. They strengthen European energy transition and independence.
This funding significantly accelerates the expansion of large-scale battery storage across Europe. It contributes to supply security and resilience. Competitors like Fluence Energy and Wärtsilä also operate in this growing market. Terra One aims to become a leading independent storage developer in the European battery storage market, leveraging its AI-based trading platform.
