Osborne Clarke advised leading Danish PV and battery storage operator Obton on one of the largest ventures for battery storage projects between developers and investors in continental Europe to date.
Obton agreed with Munich-based developer Kyon Energy to build up to 600MW stand-alone battery energy storage projects in Germany over the next three years to contribute to increase the flexibility of the German power system and help prepare the German power grid to cope with increased production capacity from volatile renewable energy and support the energy transition. The expected investment into the German energy infrastructure is in the high three-digit million-euro range.
The Osborne Clarke energy team also supports Obton during the individual projects of the portfolio, with initial projects already having reached ready-to-build status, amongst a 15.8MW project in Tangermünde.
“By this landmark framework agreement, we reconfirm our commitment to invest in driving the green energy transition”, says Torsten Lauritsen, Head of Energy Storage at Obton. “We are happy with the great support and knowhow from the whole Osborne Clarke Energy team and the solution-oriented advice that helps us getting deals done.”
“We are thrilled to being able to support Obton on this landmark battery energy storage pipeline deal, which sits at the forefront of many battery storage initiatives we finally see go live in the German market. This type of investment into long-term partnerships and innovative energy assets helps the energy transition become reality and making the German power system sustainable, also in light of further digitalisation”, says Dr Daniel Breuer, Partner and Head of Energy & Utilities at Osborne Clarke.
The Osborne Clarke energy team – based in Cologne, Munich and Hamburg – that advised Obton includes Dr Daniel Breuer (Energy/Lead), Dr Christoph Torwegge (M&A), Olexiy Oleshchuk (Finance), Dr Marleen Rheker (Energy), Theresa Viegener (Real Estate), Tim Schultze (Permits) and Svenja Kaufeld (Legal Project Management).
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