An opportunity to acquire or invest in a high-capacity, grid-connected Battery Energy Storage System (BESS) portfolio in South-Eastern Europe. The pipeline comprises 4 Special Purpose Vehicles (SPVs) covering 5 distinct utility-scale projects with a combined target capacity of 504 MW installed power and 1,010 MWh storage capacity.

Strategically positioned across three key energy regions, the portfolio captures structural market inefficiencies driven by high Day-Ahead Market (DAM) price spreads and growing renewable integration needs.

Key Portfolio Highlights

• Scale & Capacity: 504 MW installed power / 1,010 MWh storage capacity distributed across 651 storage units.

• De-Risked Status: All 5 projects are Ready-to-Build (RTB) with signed Grid Connection Technical Approvals (ATR) and approved connection studies.

• Grid Connectivity: Direct connections secured across 2 Transmission System Operator (TSO) nodes—including a direct 400 kV high-voltage connection—and 2 Distribution System Operator (DSO) nodes.

• Site Control: Right-of-superficies and urban planning certificates secured; financial guarantees posted to network operators.

Market & Revenue Opportunities

1. Energy Market Arbitrage: Capitalizing on regional energy market volatility and substantial daily price spreads (average daily peak/off-peak spread reaching ~€168/MWh).

2. Ancillary & Balancing Services: Sub-second response capability tailored for national grid frequency regulation and balancing reserve contracts with the TSO.

3. Regulatory Tailwinds: Supported by an EU-approved national BESS funding framework (€150M scheme) and national storage buildout targets of 1,200 MW by 2030.

Projected Financial Summary (Base Case)

• Total Estimated Portfolio CAPEX: ~€247.5 Million

• Estimated Annual Gross Revenue: ~€99.6 Million

• Estimated Annual EBITDA: ~€76.6 Million (~70% EBITDA Margin)

• Blended Project IRR (15-Year Nominal): ~20% – 21%

• Net Present Value (NPV @ 9% WACC): ~€140.6 Million (Base Scenario) up to ~€303.2 Million depending on market sizing assumptions

• Simple Payback Period: ~4.7 Years

Asset Breakdown

Investment Rationale

• First-Mover Advantage: Establishes immediate scale in one of Europe’s fastest-growing energy storage markets.

• High Cash Flow Yield: Strong top-line revenue potential (€120–€180/kW/year optimized across wholesale and balancing markets).

• De-Risked Execution: RTB status reduces development timelines, allowing swift deployment of capital.

For further information, full Non-Disclosure Agreements (NDAs), and Data Room access, please contact the advising transaction representative.