Independent battery company continues with InfraVia Capital

InfraVia Capital Partners has acquired a majority stake in GIGA Storage, a player in the development, construction and operation of battery storage systems. These battery storage systems are also referred to by the technical term BESS (battery energy storage system). GIGA Storage is active in the Netherlands and Belgium.

Until the acquisition by InfraVia, GIGA Storage was one of the few independent BESS platforms that integrates the entire value chain – from development and construction to operation. GIGA Storage already manages operational projects in the Netherlands and has an almost fully developed pipeline of two GW in the Benelux.

Rabo Investment, which had an interest in GIGA Storage, is selling its share. Rabobank was GIGA Storage’s financial advisor on the deal. Clifford Chance was the legal advisor. InfraVia was advised by ABN AMRO (financial advisor) and A&O Shearman (legal advisor).

GIGA Storage has no shortage of ambitions. The company received national attention when it bought the land and high-voltage grid from the bankrupt aluminum smelter Aldel last year. The company came to attention in Belgium with plans to build a gigantic battery factory. A 47 megawatt-hour battery will be installed in Amsterdam.

The founder-led management team retains a significant stake in the company and will continue to lead GIGA Storage. Nothing has been disclosed about the exact size of the French investor’s interest, nor have any financial details of the deal been disclosed.