Rabo Investments acquires a participation in GIGA Storage

Rabobank, with its investment division Rabo Investments, has taken a minority interest in the Dutch developer of large-scale battery energy storage GIGA Storage BV.

Both parties announced this on December 22, 2022. The investment will enable GIGA Storage to further expand its network of large-scale energy storage. By developing these systems GIGA Storage contributes to a flexible and sustainable electricity grid for the Benelux.

Since its foundation in 2018, GIGA Storage BV has commissioned two projects and has also developed a project pipeline of 12.500 MWh. The operational projects in Lelystad have a combined capacity of 57 MWh, making GIGA Storage the current largest player in the Netherlands. The pipeline includes projects in both the Netherlands and Belgium. GIGA Storage has 420 MWh of projects in the pipeline that will be built in the near future.

“GIGA Storage is a pioneer in the large-scale energy storage industry in the Benelux. We are proud to further shape our partnership with GIGA as an investor. This allows them to substantially grow both their battery projects and the self-developed IT platform in order to facilitate the further integration of renewable energy into the Benelux electricity grid,” says Francis Quint, Global Head of Rabo Investments.

“With Rabobank, we welcome the first formal investor to our shareholders’ table. Until now, we have financed ourselves with various informal investors – all of whom have also additionally contributed to the value of the company – but also with various crowdfunding initiatives. With the market potential ahead of us, we believe that a financial party can be decisive for achieving our objectives.” said Ruud Nijs, CEO of GIGA Storage.

ABOUT GIGA STORAGE

GIGA Storage is a developer, investor, and operator of large-scale energy storage projects in Europe. Our mission is to fasten the shut-down of fossil-fueled power plants by realizing large-scale energy storage systems and by smartly operating these systems with our IT-platform. On top of that GIGA Storage contributes to connecting more sustainable energy projects to the grid, thus a more efficient use of that electricity grid. GIGA Storage is founded in 2018 and market leader in the Netherlands

Contact
Tiffany Abati, GIGA Storage Marketing & Communications Manager, +31 6 11530639,
tiffany.abati@giga-storage.com
www.giga-storage.com

ABOUT RABO INVESTMENTS

Rabo Investments (www.raboinvestments.com) is Rabobank’s investment franchise. It has invested more than €1.8 billion in the Food & Agri, Sustainability and Healthcare sectors. These investments range from growth capital for innovative start-ups & scale-ups to investments in established companies and funds. Other recent investments by Rabo Investments in the Netherlands within the energy transition include econic (December 2022) and a co-investment in Esdec (December 2022).

Contact
Malaya van Ruitenbeek, Investment manager, +31 6 29200552,
malaya.van.ruitenbeek@rabobank.com
www.raboinvestments.com