Record‑breaking energy‑storage project in Europe. Giga Storage closes financing for a 2.8 GWh installation in Belgium

The European large‑scale battery developer Giga Storage has officially closed the financing structure for the gigantic Green Turtle energy‑storage project in Belgium. The installation, with an impressive power rating of 700 MW and a record‑breaking capacity of 2.8 GWh, has received the green light — construction will begin in September this year.

Consortium of 10 banks and 450 million euros

The financial success of the investment is the result of an agreement finalized on 9 July 2026 with an international consortium consisting of 10 leading banking institutions. The group includes Rabobank, Santander, SMBC, Triodos Investment Management, ING, ABN AMRO, a.s.r., Belfius and HCOB.

The banks will provide a total of 450 million euros in debt financing. The remaining capital required for full project execution will be contributed as equity by the French fund InfraVia Capital Partners, the majority shareholder of Giga Storage.

Green Turtle has been in preparation for a long time — construction was originally planned to start in 2025, but closing such a massive financing package ultimately set the start date for September.

Power for 385,000 homes and direct connection to the 380 kV grid

The storage facility will be connected directly to the highest‑voltage 380 kV grid. For this investment, the Belgian transmission system operator Elia has designed and configured a dedicated high‑voltage substation.

Once the facility is officially commissioned, scheduled for 2028:

• Elia will use the enormous battery capacity for real‑time balancing and stabilization of the national power grid.
• During peak demand periods, the BESS system will be able to supply energy equivalent to the daily consumption of around 385,000 households.

“Green Turtle is far more than just an energy‑storage project,” emphasizes Kevin Dijkers, CEO of Giga Storage. “It is critical infrastructure that strengthens Belgium’s security of supply, enables the integration of more renewable energy, and materially reduces the country’s dependence on imported fossil fuels.”

Target of 2 GW of operating storage by 2030

Giga Storage, with its main operational offices in the Netherlands and Belgium, is rapidly executing its expansion strategy in Western Europe. After completing the formalities in Belgium, the team led by Chief Investment Officer Animesh Ranjan is focusing on the next step — closing the financing for the ‘Albatross’ project in Lower Saxony, rated at 350 MW / 1.4 GWh.

The German project, acquired by the company in 2025, brings Giga Storage closer to achieving its global strategic goal: reaching 2 GW of operational energy‑storage capacity by 2030.