- The JV will invest €7m initially, with a total capital expenditure of €300m.
- The 320MW 2-hour battery project will start operations in 2026.
- Financial close is targeted for late-2025.
- The project aims to remove over 70,000 tonnes of CO2 annually.
Project Overview
Corre Energy and SemperPower have formed a joint venture to develop a 320MW 2-hour battery energy storage system at Zuidwending, Netherlands. This project, totaling 640MWhrs, will be one of Europe’s largest battery storage facilities.
Investment and Financials
The 50/50 joint venture will initially invest €7 million, with Corre Energy’s share represented by capital already invested. The total capital expenditure during construction and installation is estimated at €300 million. Financial close is targeted for late-2025, with commercial operations expected to begin in 2026.
Environmental Impact
The project will serve as a critical grid balancing solution, supporting the integration of intermittent renewable energy sources. It is estimated to remove over 70,000 tonnes of carbon dioxide annually, contributing positively to the environment.
Operational Details
SemperPower will handle battery infrastructure sourcing, development, and operational expertise, including finalizing offtaker agreements and project financing. The JV aims for a fixed 10-12 year offtake agreement to mitigate market revenue risk.
Strategic Importance
The battery facility will share grid infrastructure with Corre Energy’s planned Compressed Air Energy Storage (CAES) facility, creating a multi-duration energy storage hub. This model is being explored for other Corre Energy projects, enhancing energy security and stability in the region.
