The Baltic Storage Platform (BSP), a joint venture between Corsica Sole, Evecon, and Mirova has secured €85.6 million in financing for its two large-scale battery energy storage projects, Hertz 1 and Hertz 2, located in Harju County, Estonia.
The funding was provided by the European Bank for Reconstruction and Development, the Nordic Investment Bank, and Edmond de Rothschild Asset Management, with support from first-loss risk coverage from the EU’s InvestEU program.
This deal marks the first project of financing in the Baltic region that relies only on income from battery storage. It shows how energy storage is becoming a stronger and more trusted part of the market for private investors. The Hertz energy complex with a combined capacity of 200 MW power and 400 MWh of storage, will be one of the largest battery storage sites in continental Europe.
Hertz 1 in Kiisa was energized in October 2025 and is set to be fully operational by early 2026, while Hertz 2 in Aruküla is under construction and planned to start operations by the end of 2026. Hertz 1 includes Estonia’s first underground link to the 330- kV network, improving grid stability and renewable integration. Both projects aim to support Baltic grid reliability after synchronization with the European network and reduce fossil fuel dependence.
Michael Coudyser, Founder and CEO of Corsica Sole, said, “Corsica Sole has developed its expertise in energy storage on French island territories and in Belgium. With Hertz 1 and Hertz 2, we are putting this unique know-how at the service of the stability of the European grid and the energy sovereignty of the Baltic States.”