VPI and Noveria Energy sign joint venture to develop 700 MW of battery energy storage in Germany by 2030

The pipeline consists of five battery projects located in the states of Baden-Württemberg and Brandenburg. The projects have power capacities ranging between 60MW and 300MW, making them some of Germany's largest battery storage systems. They are expected to be operational by the end of the decade, with the first project targeted for completion in 2027.

Batteries, along with flexible technologies like gas-fired generation, play a crucial role in the energy transition in markets like Germany. They help stabilize the variability of renewables, which now make up 55% of Germany’s electricity system. According to leading think tanks such as Fraunhofer ISE and Frontier Economics, 15-30 GW of utility-scale batteries will be needed by 2030 in Germany to help manage the system. However, to address the challenges of grid operability and congestion while ensuring commercial viability for owners and operators, batteries must be strategically located and optimized effectively.

About Noveria is a Germany headquartered project development company focused on utility-scale battery energy storage. Founded in 2023 Noveria has assembled a pipeline of over 2GW of projects across 9 states in Germany. Noveria is a portfolio company of Bluestar Energy Capital.

Bluestar Energy Capital (BEC) is a global renewable energy investment company focused on development platforms and project development capital. BEC delivers investable clean energy projects at scale through its regional development platforms, Nova Clean Energy, LLC, BEA Renewables and Noveria Energy. BEC is headquartered in Chicago, Illinois with offices in Austin, Texas and Dublin, Ireland.

A&O Shearman’s core team included partner Max Landshut, counsel Marie-Luise von Buchwaldt (both lead), and senior associate Axel Jost (all Corporate/M&A/Infrastructure). Furthermore, the team comprised partner Dr. Christian Hilmes and associate Carl-Philipp Hoepner (both Real Estate, both Hamburg), partner Dr. Udo H. Olgemöller and associate Janina Müller (both Public Law), senior associate Tom Haeseler (Banking and Finance, all Frankfurt), and associate Johann von Pachelbel (Corporate/M&A, Hamburg).