Aukera Energy, a renewable energy and battery storage developer, has reached financial close of €97.5 million (~$106 million) on Project Volt, a 170 MW/340 MWh battery energy storage project in La Louvière, Belgium.

ABN AMRO Bank and Triodos Bank are providing senior debt for the project as co-lead arrangers and bookrunners. ABN AMRO is also acting as a structuring bank, hedging bank, account bank, and agent.

Belgian institutional investors are providing junior debt. I4B acted as lead junior lender, alongside Wallonie Entreprendre and SOCOFE.

Project Volt is Aukera’s first battery storage project in Belgium, developed in a joint venture with Weerts Group. The project is expected to enter commercial operations in mid-2027.

Aiden Yates, Aukera’s MD, Head of Structured Finance, said, “Reaching financial close on our first battery energy storage project in Belgium is a significant milestone for Aukera and an important step in the expansion of our European storage platform. We are grateful for the support of our financing partners, whose commitment reflects confidence in both the project and the long-term role of battery storage in the energy transition.”

The project secured a 15-year contract in Elia’s Y-4 Capacity Remuneration Mechanism auction in November 2025. Aukera said the project is designed with an initial two-hour duration configuration and includes flexible augmentation to support longer durations as Belgium’s energy market and grid conditions evolve.

Liedekerke provided legal counsel to the borrower, while Linklaters advised the lenders. RINA Consulting acted as the lenders’ technical adviser.

According to Mercom’s recently released Q1 2026 Energy Storage Funding and M&A report, announced Energy Storage project funding increased 115% YoY in Q1 2026, compared to $8 billion raised in the same period in 2025.

In April 2026, Matrix Renewables, a renewable energy developer and independent power producer focused on solar and battery energy storage systems, secured £245 million (~$332 million) in non-recourse financing. The financing will support the construction of a 500 MW/1,000 MWh battery energy storage system in Eccles–Leitholm, southern Scotland.