Econergy Renewable Energy has entered the German market with the acquisition of two battery energy storage system (BESS) projects in Brandenburg, totalling 100MW/200MWh.
The Israeli developer said the fully owned projects would begin construction by the end of 2025, with commercial operations targeted for the first quarter of 2027.
The investment is estimated at €73 million, with projected annual revenues of €13.7 million and average EBITDA of €11.9 million in the first five years of operation.
The acquisition forms part of Econergy’s strategy to become a leading independent power producer across Europe, with a growing focus on storage as a key enabler of the energy transition.
“This is an exciting moment for Econergy,” said chief executive Eyal Podhorzer.
“We’ve been evaluating the German market for quite some time, waiting for the right opportunity.
“With demand for storage accelerating, we’re proud to enter with two high-quality projects and look forward to establishing a strong local presence by bringing our best practices, execution capabilities, and storage expertise to the market.”
Econergy already operates the Swangate BESS project in the UK and has a pipeline of about 4GW of storage assets in development, including 15 co-located solar-plus-storage sites across Europe.
The company said it continues to explore further opportunities in Germany in line with its strategy to support the continent’s shift toward decarbonised and resilient energy systems.