Baringa congratulates Amarenco on closing the financing of its 105 MW battery for operation in the French market. As commercial advisor, Baringa supported Amarenco throughout the development and financing of the asset.
The 105 MW lithium-ion battery being developed by Amarenco in the French Gironde region is expected to be operational in 2023. As one of the largest assets in terms of power capacity in Europe, the battery is expected to help the French Transmission System Operator RTE in both balancing the grid through participation in Frequency Containment Reserves and ensuring the security of supply through the capacity mechanism. Amarenco is developing the battery in partnership with Nidec Industrial Solutions, located in Roche la Molière and a pioneer in the provision of battery energy storage solutions.
Baringa has supported Amarenco throughout the development and financing process as commercial advisor. Using our best-in-class modelling of the French power market, we provided quantification of the different revenue streams across ancillary services provision and the French Capacity Mechanism.
"We’re thrilled to have supported Amarenco, a true catalyst of the Energy Transition globally, on the financing of this pioneering battery asset in the French market. The financing of this asset represents an important milestone for the development of batteries in continental Europe, as it is the first battery asset financed on a non-recourse basis in France to date. Our involvement in this landmark project confirms our experience in the battery storage space as well as the bankability of our battery revenue projections in continental Europe."
Phil Grant, Partner
With its extensive expertise, Amarenco is a leading power producer in the solar energy sector and a leader of the transformation of our development model in our market.
Amarenco operates in more than 14 countries around the world and is the largest agriphotovoltaic actor in Europe. More than an energy producer, we want to be an active catalyst in the transformation of our economy and make the words sustainability and profitability genuinely compatible.
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